Beglyar Novruzov, Director of the Center for Economics and Infrastructure Industries of the Center for Strategic Research (CSR), expressed the opinion that the share of the European Union in its commercial importance for Russia continues to decrease. His words are quoted TASS.
According to Novruzov, this is happening as a result of sanctions restrictions. He noted that, first of all, this affects the reorientation of part of the transport complex in the Western and Northwest directions.
According to Novruzov, the share of Russia’s exports to the west in 2021-2022 was approximately 25-30 percent of the total export volume. Now some of these exports will be carried out in the south direction, mainly through ports in the Azov-Black Sea basin, as well as through land and sea routes of the North-South corridor.
Before that the European Commission suggested Update anti-Russian sanctions by adding 120 individuals and entities from the Russian Federation.
In early November, economists at the International Monetary Fund (IMF) built The model of two world trade blocs in which the world economy could break up.
An IMF analyst had previously assessed the impact of geopolitics on foreign trade.