China, India, helps weakens Western’s Sanctions on Russia


After nearly two years since Russia’s invasion of Ukraine, attempts by the US and its allies to economically pressure Moscow have faced significant challenges. The effectiveness of Western sanctions and export controls has been undermined by substantial sanctions evasion and Russia’s growing economic ties with China and India. While trade restrictions have indeed harmed the Russian economy, it remains resilient and appears to sustain the conflict in Ukraine.

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As of the close of the previous year, Moscow anticipated an annual economic growth of 2.8%, following a contraction in 2022 when sanctions tightened after the invasion. Defense spending surges and high oil prices have contributed to buoying the Russian economy, and private companies have adapted well to new economic realities. Despite initial predictions of a wholesale exodus of Western businesses, many have chosen to stay, contributing significantly to Kremlin coffers.

However, underlying conditions present challenges, including high interest rates, inflation, a weak ruble, and significant labor shortages. Despite freezing substantial foreign reserves and imposing sanctions on most Russian banking system assets, the West has not crippled the Russian economy. Sanctions evasion and Moscow’s pivot to the East have played a role in sustaining the country. A US study revealed a rebound in Russian imports by the autumn of 2022 after a steep fall post-invasion.

To circumvent Western sanctions, Moscow established a shadow tanker fleet and promoted parallel imports, formalizing the practice in May 2022. The West has sought to pressure exporting countries, yet Moscow claims parallel imports amounted to over $70 billion over the last two years.

Russia’s pivot eastwards, initiated before the Ukraine war, has accelerated. Trade between Russia and China increased by nearly 30% to exceed $200 billion in the first 11 months of the previous year. Military ties with rogue states like North Korea and Iran, coupled with potential technology purchases from friends like Turkey and China, have helped Russia resist Ukraine’s counteroffensive.

China has not only provided economic assistance but likely military and dual-use technology. Russian imports invoiced in Chinese yuan reached a fifth by the end of 2022. Beijing has increased the use of the yuan to pay for Russian commodities, filling investment gaps left by the West. Moscow’s economic ties with Beijing raise questions about Russia becoming a vassal state, but for China, India, and other countries, commercial opportunities appear to be the main driver.

The US and the EU will continue to penalize those engaging in economic ties with Russia, but the scale of illicit transactions remains uncertain. Addressing legitimate trade supporting Russia in the face of Western sanctions will be a significant challenge for policymakers as Vladimir Putin prepares for a potential fifth presidential term in March.

Bisi Adele
Bisi Adele
Bisi Adele: Illuminating Stories with Insight and Precision Senior Correspondent | Overview: Bisi Adele is a seasoned Senior Correspondent at, renowned for her skillful storytelling and comprehensive coverage of diverse news topics. With a passion for investigative journalism, Bisi navigates the intricate landscapes of current affairs with a commitment to delivering accurate, thought-provoking, and engaging news pieces. Professional Journey: Bisi's journalistic journey is marked by a dedication to uncovering untold stories and providing in-depth analyses. Joining, she has consistently demonstrated a keen awareness of the pulse of current events, ensuring that her reporting reflects a deep understanding of the socio-political landscape. Areas of Expertise: Specializing in investigative reporting, Bisi Adele is adept at unraveling complex narratives. Her expertise spans a wide range of topics, including politics, social issues, and human-interest stories, making her a versatile and valued Senior Correspondent. Contributions: Bisi's contributions to go beyond the surface, offering readers nuanced perspectives and insights. Her thought-provoking articles and in-depth analyses contribute significantly to the platform's reputation for reliable and informative news coverage. Educational Background: Bisi holds a degree in Journalism, complemented by continuous learning in investigative reporting techniques. Her educational foundation equips her with the skills needed to delve deep into stories and present them in a compelling manner. Health and Meds Journalism: Adding a unique dimension to her expertise, Bisi collaborates with Akinlabi Bisola, a distinguished health and meds journalist with a deep background in Public Health Education. Akinlabi holds a B.Sc in Health Education and a Masters in Public Health Education. Readers can explore their health-related articles on Akinlabi's website [](#). Innovation and Engagement: In an era of evolving media dynamics, Bisi Adele embraces innovation and audience engagement. Leveraging digital platforms and emerging storytelling techniques, she ensures that her stories resonate with a diverse audience, fostering meaningful conversations. Awards and Recognition: Bisi's dedication to journalistic excellence has earned her recognition in the form of awards. Her notable contributions to reporting have not only enriched but have also left a lasting impact on the journalism landscape. Vision for the Future: Looking ahead, Bisi Adele envisions a future where journalism continues to be a catalyst for positive change. Her commitment to uncovering truth, amplifying unheard voices, and contributing to a more informed society underscores her vision for the evolving landscape of news reporting. Connect with Bisi Adele: - LinkedIn: [Bisi Adele](#) - Twitter: [@BisiAdele_N247](#) In the vibrant world of journalism, Bisi Adele stands as a beacon of journalistic integrity, combining experience, expertise, and a forward-looking vision to illuminate the path of understanding for a global audience.

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