International Isolation of the Russian Economy Reflected in Merchandise Trade Statistics

• In Event: War Economy of Russia II: Analysis of Foreign Economic Relations

Abstract

Ever since the full-scale military invasion of Ukraine in February 2022, Russia has been subjected to extensive economic sanctions by developed countries. Despite the sanctions, Russia still has largely managed to maintain its total imports and exports. However, Russia's trade transactions have become increasingly concentrated with a handful of emerging markets like China and India, to the detriment of its diversified trading relationships. This report analyzes Russia's international isolation based on Russian merchandise trade statistics.

Author

• Michitaka Hattori, Hokkaido U (Japan)