Ukraine at Davos: Sanctions, Shadow Fleets, and the Economic War on Russia w/Natalia Shapoval

In this episode of Peace and Power: Ukraine, host Gary Marx is joined by Natalia Shapoval, President of the KSE Institute and visiting scholar at the Carnegie Endowment for International Peace, for a deep, policy-focused discussion on Ukraine’s economic survival amid war.

The conversation explores the fallout from the World Economic Forum in Davos, including President Zelensky’s warnings to Europe, the growing importance of sanctions enforcement, and the strategic targeting of Russia’s shadow oil fleet. Shapoval explains why physical enforcement—not just paper sanctions—is essential to cutting off Russia’s war financing, and how new U.S. and European actions against Russian energy exports could mark a turning point.

The episode also examines proposed secondary sanctions, including U.S. legislation that would penalize countries continuing to buy Russian oil, and how global actors like China, India, and Turkey factor into the economic calculus of the war. Beyond geopolitics, Shapoval shares firsthand insight into daily life in Kyiv during winter missile attacks, energy shortages, and how universities and communities are adapting to survive.

Finally, the discussion turns to reconstruction, accountability, and human rights—why documenting war damage matters now, and why holding Russia responsible is essential to preventing future wars.

This episode offers a grounded, unscripted look at the intersection of sanctions policy, energy security, and Ukraine’s long-term resilience.

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