Russia is winning the trade war. Here is how

So far, Russia has weathered the storm of sanctions better than expected.

Edition July 2022 How Russia is winning the trade war  Record energy prices and dependency on fossil fuels are making Russia the winner in the trade war.  Gilberto García Chief Economist in Datawheel So far, Russia has weathered the storm of sanctions better than expected. Russia's economy has benefited from high oil prices and a growing energy market. Take, for example, China. In May 2022, Russia became Europa's leading exporter to China, ahead of Germany, the world's third-largest exporter. Since the beginning of the invasion, Russia has increased its exports of fossil fuels to China by ↑ $3.31B (67.3%), reaching $8.21B in one month.  At the same time, China's imports from Ukraine have dropped by ↓ -$627M (-88.5%). In May, Ukraine became the lowest exporter to China among European countries.  Although China is the most dramatic case, this is a repeated story: leading trading nations have found it challenging to do business with a country at war -unless you buy its oil and gas. Keep reading and learn more about How Russia is winning the trade war  Read the full article Most recent articles in our OEC blog    MAY 2022   How COVID changed international trade  Gilberto García Chief Economist in Datawheel Here is a summary of what the recently released international trade data tells us about the winners and losers of 2020.    APRIL 2022   Supply Chain bottlenecks for the car industry continue Gilberto García Chief Economist in Datawheel New border policies implemented by the state government in Texas are hurting critical supply chains for the auto industry in North America.   Copyright © 2022 Datawheel, All rights reserved. You are receiving this newsletter because you opted in at oec.world Our mailing address is: Datawheel 1299 Cambridge St Cambridge, MA 02139-1339 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.