Page 39 - Russia OUTLOOK 2023

countries that saw the biggest increases like Slovenia are also some of those
that are most dependent on the imports of Russian gas. Others like Spain and
Portugal that saw the smallest increases are amongst the least dependent.

Russia’s most important economic partners. This applies to both
financial markets and trade relations.

As the countries imposing sanctions on Russia have dominated Russia’s
external economic relations, it is very difficult for Russia to compensate for the
loss of these financial and trade flows.

Countries that joined in international sanctions on Russia in spring 2022
accounted for about half of Russia’s goods trade in 2021.

Among non-sanctioning countries, Russia’s biggest trading partner by far was
China.

39 Russia OUTLOOK 2022 www.intellinews.com