Despite Sanctions, Aggressive States Still Rely on Russia for Trade

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The commercial exchange between Russia and the countries that impose unilateral sanctions amounted to more than 270,000 million dollars in the first ten months of 2018, reveals a report by FinExpertiza.

Trade with 17 countries that support anti-Russian sanctions accounted for 48% of total Russian trade between January and October 2018 and reached 271,600 million dollars,” said the entity.

The United States and several countries in its orbit imposed unilateral sanctions on Moscow due to the Ukrainian internal crisis and the reunification of the Crimean Peninsula to Russia after the referendum held in March 2014, in which more than 96% of voters endorsed this option.

Among these countries, Poland leads the increase in trade with 37.5% to 17.8 million dollars, followed by Moldova with 31%.

In the third place is Switzerland with an increase of 30.1% of trade with Russia in the first ten months of 2018.

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“It’s a classic situation, when businessmen engage in aggressive rhetoric, but under the table they shake hands,” said Elena Trubnikova, chairwoman of FinExpertiza’s board.

However, none of these countries regained the level of trade that existed before the imposition of sanctions in 2014.

Belgium is the country that has come closest to reaching a percentage of the level prior to unilateral sanctions in 2018, followed by the United States with 92.6% and Moldova with 91.8%.

Those who continue to recover from the fall of trade with Russia are Latvia, Ukraine and Italy.

“According to the forecasts, at the end of 2018 the commercial exchange of Russia will reach 702,000 million dollars or 83% of the level that it had before the sanctions,” the experts point out.

The anti-Russian sanctions introduced in 2013 not only have not affected Russia’s economic development, but have helped lift entire sectors of its economy and seek alternative markets. If the Russian countermeasures are added, the only ones that have lost in this whole story seem to be the same ones who started the war of sanctions.

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