The potential of Russia-DPRK cooperation: economic advantages and political disadvantages

G. Bulychev and A. Yakovlev
Additional contact information
G. Bulychev: Institute of Economics, Russian Academy of Sciences, Moscow, Russia
A. Yakovlev: Moscow School of Economics, Lomonosov Moscow State University, Moscow, Russia

Journal of the New Economic Association, 2023, vol. 58, issue 1, 172-181

Abstract: The article discusses the possible prospects for re-establishing economic and political cooperation between Russia and Democratic People's Republic of Korea (DPRK) in the current geopolitical situation. Despite the development of advanced cooperation between the USSR and the DPRK in historical retrospect, the change of the political regime in Russia led to a complete rupture of economic ties. In the new geopolitical reality and the challenge of Russia's policy of "turning to the East", it is noteworthy that DPRK takes a radical pro-Russian position on the conflict in Ukraine, which can serve a basis for re-establishing political and economic relations between two countries. However, the prospects for the development of large-scale cooperation between the Russian Federation and the DPRK at the moment seem rather vague, since the North Korean economy remains isolated, the country's borders are still closed and the country is under UN sanctions pressure and a wide range of bilateral restrictive measures from Western countries for a long time, which blocks almost all forms of economic cooperation. The DPRK's adaptation to restrictions and the development of mechanisms to circumvent sanctions by creating the necessary financial and logistics infrastructure allow the country to generate income and purchase the necessary goods and resources. It is concluded that with the final loss of Western markets, the importance of DPRK as a trading partner for Russia may increase.

Keywords: DPRK; sanctions; effectiveness of sanctions; economy of North Korea; UN Security Council; Russian-North Korean cooperation (search for similar items in EconPapers)
JEL-codes: F15 F21 F34 F51 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.econorus.org/repec/journl/2023-58-172-181.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2023:i:58:p:172-181

DOI: 10.31737/22212264_2023_1_172

Access Statistics for this article

Journal of the New Economic Association is currently edited by Victor Polterovich and Aleksandr Rubinshtein

More articles in Journal of the New Economic Association from New Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Alexey Tcharykov ().