Development of Energy Trade Between Russia and China Under EU and US Economic Sanctions
https://doi.org/10.21686/2410-7395-2024-4-42-58
Abstract
The objective of this study is to analyse energy trade between Russia and China in the situation of the EU and US economic sanctions. The article fills the gap in research on the impact of sanctions on the Russian economy at the level of individual sectors of the economy, in particular energy sector. The analysis is based on statistical data on Russia-China energy trade from 2000 to 2023, i. e. before and after sanctions were imposed, as well as documents and information on the EU and US economic sanctions. We consider the types of economic sanctions, trends in the development of Russia-China trade in energy resources under sanctions, as well as adaptive measures taken in Russia-China energy trade and their consequences. The impact of 2014 and 2022 economic sanctions on the Russian economy and trade is compared, and the effect of sanctions on Russia-China energy trade is analysed. It is concluded that because of EU and US sanctions and adaptive measures taken by Russia and China, energy trade and cooperation between the two countries have strengthened; however, Russia faces the challenge of diversifying exports and developing trade in the context both of sanctions and the energy transition. This article contributes to research in the field of international energy trade, and offers practical recommendations for energy cooperation between Russia and China.
Supporting agencies: The article is based on the results of the study conducted with the financial support of the Russian Science Foundation (code: 23-18-01065).
About the Authors
Lin Shengfu
Ural Federal University
Russian Federation
Russian Federation
Lin Shengfu, Post-Graduate Student, Graduate School of Economics and Management of UrFU.
19 Mira Street, Ekaterinburg, 620062.
N. В. Davidson
Ural Federal University
Russian Federation
Russian Federation
Natalia B. Davidson, PhD, Associate Professor at the Chair of International Economics and Management, Graduate School of Economics and Management, UrFU.
19 Mira Street, Ekaterinburg, 620062.
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For citations:
Shengfu L., Davidson N.В. Development of Energy Trade Between Russia and China Under EU and US Economic Sanctions. International Trade and Trade Policy. 2024;10(4):42-58. https://doi.org/10.21686/2410-7395-2024-4-42-58
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