The resilience shown Russian economy in successive waves Western sanctions they are also to some extent due to the constant contribution of the neighbor and ally China. Throughout the entire period since the beginning of the war, China has been crowding out the economies of the West both as a customer and as a supplier. Russia.

First, China replaced the purchases of Russian hydrocarbons, which Europe blocked. As Neil Thomas, China and Southeast Asia Analyst at the Eurasia Group, notes, “China financially supported the Russian war in the sense that it dramatically expanded trade relations with it, undermining and weakening the West’s efforts to bring its military to its knees. “Moscow car”. Bilateral trade hit a record high last year, rising 30 percent to $190 billion, according to Chinese customs data. And as they indicate political and economic analystsIsolating Russia gives Beijing the opportunity to exercise much more influence and use cheap energy, advanced military and defense technology, and diplomatic support for China’s international interests. With regard to energy in particular, between March and December last year, China bought Russian oil for $50.6 billion, up 45% over the same period last year. It also imported $10 billion worth of coal, up 54% again, while imports of Russian natural gas and Russian liquefied natural gas (LNG) rose 155% to $9.6 billion. an agreement between Gazprom and the China National Petroleum Corporation that will bring more Russian gas to China over the next 25 years. In fact, according to Anna Kirieva, a professor at MGIMO, “given China’s reset, logically, Russian exports to China will increase.”

China supports the Russian economy both as a customer and as a supplier.

Meanwhile, since May, Russia has spent billions of dollars buying mechanical equipment, electronics, industrial metals, vehicles, ships and aircraft from China. Thus, China largely compensated for what Russia could no longer receive from the West.

After all, Russia finds replacement cars and electronics in China, which it imports from the West. As Anna Kirieva emphasizes, “no other major manufacturer can compete with China in terms of industrial production.” Thus, according to the Russian research company Avtostat, after the withdrawal of Western automakers from the Russian market, the share of Chinese Havel, Chery and Geely increased over the year and jumped from 10% to 38%. Also, Chinese smartphone brands had a market share of about 40% at the end of 2021. A year later, they literally took over the market with a 95% share, according to research firm Counterpoint. Thus, Russian companies are now using Chinese currency much more to facilitate trade with China. In November last year, the yuan accounted for 48% of the Russian foreign exchange market, while in January 2022 it did not exceed 1%. According to the Russian news agency TASS, Russia will buy yuan to replenish its sovereign wealth fund.