The ongoing struggle surrounding the Ukraine conflict has taken another front, this time in China and within global economic circles. Reports indicate that Beijing has not condemned Russia’s aggression, has echoed Russian framing, and has strengthened economic ties with Moscow. In parallel, China and Russia are expanding their joint military activities in the Indo-Pacific, a development highlighted after discussions with senior officials from Australia, New Zealand, Japan, and South Korea. The NATO secretary general warned that Beijing would face serious consequences if it supplied lethal aid to Russia. After a recent meeting with the Chinese president, he stressed this warning to ensure Beijing’s alignment. The Chinese side dismisses the statement as rhetoric and insists the relationship remains strategic but not a declaration of unlimited alliance. Analysts describe the dialogue as carefully calibrated posturing rather than a binding pledge. In the meantime, the war has crossed 406 days, and Russia has imposed a diesel purchase veto as part of broader economic pressure aimed at constraining European accounts. This follows earlier restrictions on coal and oil. Since the conflict began, Moscow’s bills for coal, gas, and crude oil to the European Union have reached around 140 billion euros, a figure 41% higher than in 2021, according to the Energy and Clean Air Research Center (CREA). Within this period, fuel purchases by Galician companies from Russia surged, marking a historical uptick in imports from that region. (Source: CREA)
Measured alongside this, imports by Galicia from Russia between February 2022 and January of the current year totaled 539.6 million euros, a rise of more than 78% compared with the previous year. Within this total, fuel stood as the dominant item at 445.6 million euros, with a 118.6% increase driven by price spikes. Petroleum oils registered 55.6 million euros, recorded in February, March, and July of the previous year. The remaining purchases mainly consist of gas, totaling 390.1 million euros, with activity concentrated in July, September, October 2022 and January 2023. (Source: Galicia trade records)
Since the onset of the conflict, Europe has seen a marked reduction in gas imports from Russia, falling from about 40% to roughly 7%. Contributing factors include disruptions to the Nord Stream pipeline, reduced flows via Ukraine and Belarus, and some outright embargoes. Enagás, the technical manager of Spain’s gas system, outlines these shifts in its latest operating balance sheet. U.S. supplies accounted for roughly 130,000 of a total 446,550 gigawatt-hours, followed by Algeria, Nigeria, and Russia in that order. Additionally, 338 seaborne discharges occurred at six regasification plants within the country, and 25 methane tankers arrived at Mugardos in Galicia, with 15 of them originating from Russia. (Source: Enagás operating balance)
The conflict’s outbreak has unsettled the primary sectors of the community and has put pressure on two of the world’s largest suppliers of essential raw materials. Fertilizers, which reached 41.1 million euros in purchases from Russia, rose by about 4%. Fish imports grew by 57% to 19 million euros, while foundry, iron, and steel markets increased by 7.9% to 13.8 million euros. Wastes from the food industry surged by 189% to 10.4%. Conversely, machinery and mechanical devices declined by 4.1%, and aluminum and wood imports dropped by more than 75%. (Source: regional trade statistics)
Sales of Galicia-made products in Russia showed more stability, with a 5.4% increase in the first year of the war, totaling 133 million euros. Insecticides and rodenticides led the trade flow with Russia, up 237% to 101.5 million euros. Subscription traffic to the region rose, albeit at lower levels, reaching about 2 million euros, a rise of 86%. Albuminoid and adhesive exports climbed 195% to 1.4 million units. Automotive and textile items recorded 1.9 million and 1.4 million euros respectively, but overall there was a sharp drop in car and clothing exports, reflecting broader market shocks. Furniture exports, which reached 9 million euros in the previous year, stood at 454 thousand euros. (Source: regional trade data)