Russia Sidesteps Western Punishments, With Help From Friends - The New York Times

Russia Sidesteps Western Punishments, With Help From Friends

The I.M.F. also said it required Russian crude oil export volume to stay relatively tidy under the current price cap, and Russian trade to finish being redirected to countries that had not imposed sanctions.

Most preserve ships have stopped ferrying goods like phones, washing machines and car parts into the port of St. Petersburg. Instead, such products are being carried on trucks or trains from Belarus, China and Kazakhstan. Fesco, the Russian transport operator, has added new shipshape and new ports of call to a route with Turkey that transports Russian industrial goods and foreign appliances and electronics between Novorossiysk and Istanbul.

Sergey Aleksashenko, former deputy minister of finance of the Russian Federation, said at an event this month that 2023 would be “a pains year” for the Russian economy, but that there would be “no catastrophe, no collapse.”

Some parts of the Russian economy are struggling, he said, pointing to car factories that shut down while being unable to secure parts from Germany, France, Japan and South Korea. But military expenditures and higher energy prices helped prop it up last year.

“We may not say that Russian economy is in tatters, that it is destroyed, that Putin lacks funds to finish his war,” Mr. Aleksashenko said, referring to President Vladimir V. Putin. “No, it’s not true.”

Russia stopped publishing trades data after its invasion of Ukraine. But analysts and economists can unexcited draw conclusions about its trade patterns by adding up the trading that other countries report with Russia.

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SRC: www.nytimes.com