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Can Russia reorient its trade and financial flows?

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  • Simola, Heli

Abstract

Russia's invasion of Ukraine and resulting sanctions have substantially hurt Russia's economic relations with developed economies. Countries imposing sanctions on Russia accounted for half of Russia's foreign trade and over half of foreign financial flows before the war. We analyse the development of Russia's trade and financial relations in recent months and find that Russia's success in reorienting its trade and investment flows has been mixed.

Suggested Citation

  • Simola, Heli, 2022. "Can Russia reorient its trade and financial flows?," BOFIT Policy Briefs 7/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    • Handle: RePEc:zbw:bofitb:72022
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    References listed on IDEAS

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    1. Iikka Korhonen & Heli Simola, 2022. "How Important Are Russia's External Economic Links?," Asian Economic Papers, MIT Press, vol. 21(2), pages 1-13, Summer.
    2. Simola, Heli, 2021. "Long-term challenges to Russian economic policy," BOFIT Policy Briefs 11/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
    3. Simola, Heli, 2022. "Made in Russia? Assessing Russia's potential for import substitution," BOFIT Policy Briefs 3/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    4. Simola, Heli, 2022. "Russian foreign trade after four months of war in Ukraine," BOFIT Policy Briefs 5/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    5. Iikka Korhonen & Heli Simola & Laura Solanko, 2018. "Sanctions and countersanctions − effects on economy, trade and finance," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3-18, pages 68-76.
    6. Korhonen, Iikka & Simola, Heli & Solanko, Laura, 2018. "Sanctions, counter-sanctions and Russia: Effects on economy, trade and finance," BOFIT Policy Briefs 4/2018, Bank of Finland Institute for Emerging Economies (BOFIT).
    7. Maria Demertzis & Benjamin Hilgenstock & Ben McWilliams & Elina Ribakova & Simone Tagliapietra, 2022. "How have sanctions impacted Russia?," Bruegel Policy Brief node_8407, Bruegel.
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    Cited by:

    1. Simola, Heli, 2023. "What the literature says about the effects of sanctions on Russia," BOFIT Policy Briefs 8/2023, Bank of Finland Institute for Emerging Economies (BOFIT).
    2. Golikova, V. & Kuznetsov, B., 2023. "What waits us tomorrow: What branches will be hit by supplies' sanctions of technological equipment to Russia?," Journal of the New Economic Association, New Economic Association, vol. 60(3), pages 187-196.

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    Keywords

    Russia; Ukraine; sanctions; trade; FDI;
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