On May 13, Torbjörn Becker, Director of the Stockholm Institute of Transition Economics (SITE), presented SITE’s latest report on the Russian economy to the Economic and Financial Affairs Council (ECOFIN) in Brussels. The meeting brought together EU Finance and Economy Ministers to address the Union’s internal economic and financial priorities, while also making space to consider the broader implications of Russia’s ongoing aggression against Ukraine. This discussion comes at a particularly timely moment, coinciding with the EU’s preparations for its 17th sanctions package, which is expected to be formally adopted by the Council on May 20.