Emerging countries have replaced most of Russia’s lost trade with advanced

The average monthly export value of the categories in 2023 was $1.8 billion. The steep decline in exports from sanctioning countries was accompanied by an increase in exports of the same goods from non-sanctioning countries. [...] While monthly data is volatile and could also reflect seasonal effects, in December 2023 the exports of such products from non-sanctioning countries was on the rise.  Emerging countries have replaced most of Russia’s lost trade with advanced economies 5 Bruegel analysis 21 March 2024 The EU and others have not imposed sanctions on all goods. [...] The goal of the sanctions is to compromise Russia’s ability to wage the war, and not to deprive the Russian people of medicines. [...] Emerging countries have replaced most of Russia’s lost trade with advanced economies 6 Bruegel analysis 21 March 2024 Imports from Russia Imports from Russia by sanctioning countries fell in every main category from the monthly average of January 2019-February 2022 to the monthly average of 2023 (Figure 7). [...] The lower value between the increase in exports from the EU to potential hubs and the increase in exports from potential hubs to Russia.