Posts

Showing posts with the label domestic industries

How Russia is Escaping Western Sanctions: Strategies and Implications

Image
Russia has been facing western sanctions for years now, but despite this, the country has been able to find ways to escape these sanctions. The sanctions were initially imposed in 2014 as a response to Russia's annexation of Crimea and involvement in the Ukraine conflict. Since then, the sanctions have been extended and expanded to include individuals, companies, and sectors of the Russian economy. Despite the pressure, Russia has managed to mitigate the impact of these sanctions by adopting various strategies. One of the ways Russia has been able to escape western sanctions is by forging stronger ties with China. This has allowed Russia to diversify its trading partners and reduce its dependence on the west. In recent years, China has become Russia's largest trading partner, and the two countries have signed several trade deals worth billions of dollars. This has allowed Russia to bypass the western financial system and reduce its reliance on western technology and