5 ways Russia's been sidestepping Western sanctions and keeping its economy alive, from switching to the Chinese yuan and dabbling in ghost trades
Energy exports aside, Russia has also found ways to counter the West's unprecedented sanctions, including an EU ban on its crude imports and restrictions to keep the country out of the dollar-based Swift payments system.
More importantly, these moves undermine the efforts of the international community to force the Kremlin into ending the war in Ukraine.1. 'Ghost trades' could be helping Russia get hold of goods for defense and intelligence services. Despite sanctions that restrict a swathe of European Union exports from reaching Russia, the country appears to have received at least $1 billion worth of such goods in"ghost trades," theSuch exports include"dual use" goods — products that can be used for defense or intelligence services. They include aircraft components, optical equipment, and gas turbines per the FT.
Just half of $2 billion worth of controlled goods intended for the ex-Soviet Union states of Kazakhstan, Kyrgyzstan, and Armenia reached these destinations, per the FT's analysis of publicly available data."Where else could it go?" asked Erki Kodar, Estonian minister for sanctions, told the FT."Why would those countries suddenly need those goods at this time? Who needs those goods the most in the region? It's obviously Russia.
The dark fleet keeps Russia's vital energy trade humming and is becoming a cause for worry because the aging ships are accident-prone. Consequently, insurance claims could be an issue — because their owners are often unknown,
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