Today Russia occupies only 11th place among the largest importers of Chinese goods, according to the study.
International sanctions against Russia are causing significant damage to its economy and trade. This was reported by the US State Department, citing a study by Yale University.
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The released document examines the Kremlin’s propaganda narratives and provides expert explanations of why they are false.
Thus, the authors of the study refuted Moscow’s statement that the impact of Western sanctions on the Russian economy was not significant. They argue that the impact is already tangible, as evidenced by Russian President Vladimir Putin’s attempt to legalize the theft of intellectual property from “unfriendly countries.”
The study also refutes the thesis that Russia can supposedly quickly reorient itself from Western markets to the markets of “friendly countries”, in particular China.
“Publicly, Russia advertises its trade relationship with the PRC to make up for the lack of imports and exports. In fact, it is an unequal relationship, as Russia needs China more than China needs China to Russia. In 2021, the PRC will be Russia’s main source of imports, however, Russia ranks only 11th among the largest importers of Chinese goods. China’s exports in Russia from the beginning of the year to April 2022 decreased by almost 50%,” the report said.
Researchers also point out that Russia will not be able to quickly reorient its natural gas exports from Europe to Asia, as more than 90% of Russian gas is transported through pipelines, most of which are connected to refineries in Europe, and the construction of new gas pipelines or sea terminals will require time and a lot of money.
It was earlier reported that China has zeroed out investments in Russia through the One Belt One Road global project. This happened for the first time since 2013.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.