Significant progress | SAIGON GIAI PHONG NEWSPAPER

According to Asialyst, after nearly two years of conflict in Ukraine, Russia's pivot to Asia policy has made significant progress. Western sanctions have not caused the Russian economy to collapse, and the main reason is that China, India and Turkey have not joined these sanctions.

In 2023, Russia's trade surplus will reach a significant level of about $140 billion thanks to a strong pivot of Russian exports to Asia and Türkiye. According to the Bruegel foreign trade monitoring agency (Russia), of Russia's 38 major partner countries, nearly two-thirds of Russia's exports are now aimed at five Asian countries. In the period 2021-2023, Russia's sales to Japan and South Korea decreased by about more than $15 billion. But compared to the same period, Russia's sales to China and India increased, reaching a total value of $108 billion. This figure is almost equivalent to the decrease in Russia's exports to the European Union (EU) - a decrease of $106 billion.

Türkiye is becoming an important partner for Russia. Among the 38 partner countries, Türkiye now accounts for more than 13% of Russian exports compared to 7% in 2021, with additional Russian exports worth $21 billion offsetting the decline in sales to Japan and South Korea. The trio of China, India and Türkiye helped Moscow’s exports reach $130 billion in two years, effectively equal to the decline in Russian sales to the 27 EU countries, the US, Japan and South Korea ($139 billion).

In terms of imports, out of Moscow's 38 main suppliers, three-quarters of Russia's imports now come from Asian suppliers and Turkey. The EU's share fell to 22%, compared to 47% in 2021. Russia's military cooperation with Asia opens the door for Asian imports to account for more than 60% of Russia's arms exports...

It can be said that the Russian economy is now dependent on the Asian market. This continent has taken over from Europe as Russia's main partner. Even if the Russia-Ukraine conflict ends, this situation is unlikely to change. And so, these countries are benefiting from the West's retreat.

MINH CHAU

Source: https://www.sggp.org.vn/buoc-tien-dang-ke-post735891.html