MUTUAL TRADE BETWEEN RUSSIA AND THE EU IN 2022-2023: RECOVERY OPPORTUNITIES

M. P. Belikova ()

International Trade and Trade Policy, 2024, vol. 9, issue 4

Abstract: The article is devoted to trade and economic cooperation of the Russian Federation in the realities of 2022–2023. The topic was updated in connection with the tightening of economic sanctions against the Russian Federation, which Western "partners" continue to impose in the hope of still worsening the state of the Russian economy. The paper presents and analyzes the statistical data of the Federal Customs Service of Russia on the trade turnover of the Russian Federation in the specified period with the EU countries, the EAEU, the SCO states, including China – modern trading partners of our country. In addition, the author substantiates the point of view that, firstly, sanctions are limited in nature, and secondly, the economic isolation of Russia, even from the EU countries, remains, in the author's opinion, very incomplete and is often overcome by Western "partners and their business entities throughout the period. The article shows that the relations between Russia and the European Union in terms of mutual trade, although they are at the lowest point in their history, however, there are solid foundations for their restoration, since, in general, taking into account the possibilities of parallel imports and official sanctions, EU trade with Russia not only did not stop, but also grew by some areas that have not been sanctioned. In conclusion, the author's proposals aimed at the further development of foreign trade of the Russian Federation in the face of sanctions, as well as to support certain industries in the face of the need to increase import substitution and ensure the technological sovereignty of the Russian Federation are presented.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2024:id:646

DOI: 10.21686/2410-7395-2023-3-96-108

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