The Kremlin is looking for new markets and trade partners. Russia can't cope without the EU
The article discusses Russia's search for new economic partners in light of sanctions and the challenges it faces in the absence of the EU.
The article highlights the challenges faced by Russia's economy following sanctions from the European Union, as articulated by oligarch Alexey Mordashov. He emphasizes that the key issue for Russia is the lack of 'friendly countries' that can provide necessary economic support. The implications of this shortage are significant, as Russia looks to expand its economic horizons and establish new partnerships throughout regions such as South America, the Middle East, and Asia.
Mordashov, a prominent figure with substantial economic influence, calls for the establishment of a 'truly capacious common market' that thrives on cooperation with new allies, specifically naming Vietnam, Iran, and Indonesia as potential partners. This pivot from traditional markets, such as those within the EU and Japan, signifies a broader strategy by the Kremlin to mitigate the economic fallout from ongoing geopolitical tensions and trade restrictions. This shift not only reflects immediate economic strategies but also raises questions about long-term sustainability and adaptability of Russia's economy in this new landscape.
Experts note that the future of the Russian economy hinges on its ability to cultivate these prospective trade relationships, as well as address the significant economic limitations it faces. As Russia actively seeks to redefine its global trade relationships, the outcomes of its engagement in forums like BRICS may prove crucial for its economic survival and growth in a world increasingly divided by geopolitical barriers.