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Center for European Policy Analysis
Organisation

Center for European Policy Analysis

Washington think tank on European security and NATO; cited for its sobering Ukraine oil-strike revenue analysis.

Last refreshed: 22 May 2026 · Appears in 2 active topics

Key Question

Does CEPA's 0.46% oil revenue finding mean Ukraine's refinery campaign is failing?

Timeline for Center for European Policy Analysis

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Common Questions
What is CEPA and what do they say about Ukraine?
The Center for European Policy Analysis (CEPA) is a Washington-based think tank focused on transatlantic security and European affairs. In April 2026 it published David Axe's assessment that Ukraine's 130 oil infrastructure strikes in 2025 inflicted only 0.46% of Russia's annual oil revenue in damage — a figure widely cited in debate about the effectiveness of Ukraine's oil-war strategy.Source: https://lowdown.today/entities/center-for-european-policy-analysis
How much damage have Ukraine's oil strikes done to Russia?
According to CEPA's April 2026 analysis by David Axe, Ukraine's 130 oil infrastructure strikes over 2025 damaged just 0.46% of Russia's annual oil revenue — suggesting the strikes are strategically symbolic rather than economically decisive on their own. The analysis contributed to debate about whether Ukraine's oil campaign needed to be scaled up or redirected.Source: https://lowdown.today/entities/center-for-european-policy-analysis
Is CEPA a reliable source on the Russia-Ukraine war?
CEPA is a well-established Atlantic-aligned think tank with a clear pro-European, transatlantic stance. Its analysis is widely cited in Western policy circles. Readers should note its institutional bias towards supporting Ukraine and European security integration, which frames its assessments, though its factual analysis — such as the revenue-damage calculation — is based on publicly available data.Source: https://lowdown.today/entities/center-for-european-policy-analysis

Background

The Center for European Policy Analysis (CEPA) is a transatlantic think tank headquartered in Washington DC with offices in Europe, founded in 2007. Its focus spans Central and Eastern European security, NATO policy, energy geopolitics, emerging technology, and the Russia-Ukraine war. CEPA has grown significantly since the 2022 invasion, producing regular operational analyses that draw on RUSI, ISW, and primary military reporting. Its publications occupy a pro-transatlantic analytical position while maintaining research standards distinguishable from pure advocacy.

CEPA's analytical output spans multiple Lowdown topic areas. On the Russia-Ukraine war, CEPA published David Axe's assessment — citing RUSI research — that Ukraine's 130 oil infrastructure strikes in 2025 delivered just 0.46% of Russian annual oil revenue in damage ($863m of $189bn), and that Ukraine would need two centuries of strikes at current pace to equal one year of Russian oil revenues. A separate CEPA piece noted that Fire Point, Ukraine's Flamingo cruise missile manufacturer, was under a NABU corruption investigation, touching a sensitive domestic accountability question for Kyiv. CEPA also produces analysis on European tech sovereignty, drone policy, and sanctions architecture.

On European tech and regulatory topics, CEPA's analysts are cited across the EU-US regulatory friction space, including on DMA enforcement and AI Act implementation. The think tank occupies Washington's transatlantic policy space with credibility among both Republican and Democratic Foreign Policy establishments; its research is routinely cited by Congressional staff and State Department analysts working on Eastern Europe. Russia consistently frames CEPA as a propaganda organ of The Atlantic alliance, while selectively amplifying findings — such as the 0.46% oil revenue figure — when they serve the narrative of a failing Ukrainian strategy.

More questions
What did CEPA report about Ukraine's Flamingo missile manufacturer?
CEPA published a piece noting that Fire Point, the Ukrainian manufacturer of the FP-5 Flamingo cruise missile, was under a NABU (National Anti-Corruption Bureau of Ukraine) corruption investigation. The report was significant because it challenged Ukraine's own domestic accountability at a moment when the Flamingo was demonstrating operational reach against Russian targets.Source: CEPA / NABU
Does CEPA support Ukraine financially or is it independent?
CEPA is a 501(c)(3) non-profit research organisation. It receives funding from foundations, governments, and corporate donors including defence contractors. Its pro-European and transatlantic position is institutional rather than concealed, but its independence from direct Ukrainian government funding means its more critical analyses — such as the 0.46% oil revenue finding — carry more weight than pure advocacy would.Source: CEPA public filings
What did CEPA find about the impact of Ukraine's oil strikes on Russia?
CEPA published David Axe's analysis that Ukraine's 130 oil infrastructure strikes in 2025 caused approximately $863m in damage, equivalent to just 0.46% of Russian annual oil revenue of $189bn. The analysis, drawing on RUSI research, calculated Ukraine would need roughly two centuries of strikes at the current pace to equal one year of Russian oil revenue.Source: CEPA / David Axe (2026)
What is the Center for European Policy Analysis and who funds it?
CEPA is a transatlantic think tank founded in 2007 and headquartered in Washington DC with European offices. It focuses on Central and Eastern European security, NATO policy, energy, and emerging technology. Its analytical output is cited by Congressional staff and State Department analysts; it is aligned with transatlantic security but maintains research standards distinguishable from pure advocacy.Source: Entity background
Is CEPA biased towards Ukraine in its analysis?
CEPA occupies a pro-transatlantic analytical position but publishes findings that challenge pro-Ukraine narratives, including its assessment that Ukraine's oil strike campaign has delivered only 0.46% of Russian annual oil revenue in damage. Russia frames CEPA as a propaganda organ of The Atlantic alliance but selectively cites its more sceptical findings.Source: Entity background
What topics does CEPA cover beyond Russia and Ukraine?
Beyond Russia-Ukraine analysis, CEPA covers European tech sovereignty, EU-US regulatory friction including DMA enforcement and AI Act implementation, drone policy, and sanctions architecture. Its analysts are cited across multiple Lowdown topic areas including European Tech Sovereignty.Source: Entity background / recent_events