![]() The European Union, the United States and the United Kingdom have imposed harsh economic penalties on Russia, sanctioning hundreds of wealthy citizens and government officials and largely cutting the country off from the international financial system. And Russia’s long-standing economic ties with Europe are gradually being unknotted, and new alliances are forming as goods are rerouted to other countries, the data shows. Prices for fuel and other products have risen at a time of record inflation. Food is in short supply in many countries that rely on wheat and other staples grown outside their borders. “There is no substitute.”Īs it drags on, the war, and the world’s response to it, are bringing about a remarkable change in international trade flows. “It’s very difficult to live without Russian resources,” said Sergey Aleksashenko, the former deputy finance minister of Russia and deputy chairman of its central bank. ![]() Attempts by Western nations to use sanctions and other measures to cripple Russia’s economy have so far had limited effects. Russia’s ability to trade with the rest of the world could be further curtailed in the coming months as the West introduces new restrictions.īut so far, the data underscores how deeply intertwined Russia is with the global economy, allowing Moscow to generate substantial sums of money as it enters its ninth month of war. ![]() Because the data is published with a lag, the picture it provides is inherently backward looking. To assess the global shifts, The Times analyzed years of country-level trade data compiled by the Observatory of Economic Complexity, an online data platform. ![]() ![]() Russia’s relationship with the world is continuing to evolve rapidly. That has led to a frustrating reality for Western officials who had hoped to undercut Russia’s war effort by punishing its economy: The value of its exports actually grew after it invaded Ukraine, The Times analysis shows, even in many countries that have taken an active role in opposing Russia. ![]()
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