Russian economy on life support
ukraine
russia-economy
As Western firms withdrew, Chinese exports to Russia more than doubled, giving Beijing outsized leverage over Moscow’s wartime economy.
Sanctions after the 2022 invasion pushed Russia into deep economic dependence on China: Chinese exports to Russia jumped from an average $52 billion over 2017–2021 to $111 billion in 2023, as European and American exports collapsed. That concentration cuts against Russia — the piece argues China is positioned to charge above-market prices for what it sells while buying Russian energy at a discount, turning a wartime lifeline into significant economic leverage over Moscow.
Originally published on Substack, March 27, 2024.