Following Russia’s invasion of Ukraine, the United States and its allies put in place an extensive set of sanctions to limit Moscow’s export earnings. Russian fossil fuels were one major target. While South Korea joined the initial set of U.S. and EU sanctions on Russia shortly after the war began, Seoul did not adopt sanctions … Read more
Advertisement Driven by China’s Belt and Road Initiative (BRI), from 2015 onwards rail-borne containerized cargo flows between the European Union (EU) and China increased steadily. Volumes hit a peak between 2020 and early 2022, the start of the war in Ukraine. During 2021, well over 600,000 TEUs (twenty-feet equivalent units) were moved between Chinese and … Read more
Pacific Money | Economy | South Asia Even as India-Russia energy trade witnessed significant growth, the rupee-ruble system could not gain traction as expected. Advertisement Recently, India and Russia decided to halt talks on reviving the Soviet-era rupee-ruble currency exchange mechanism after both sides failed to resolve teething troubles that hindered its successful implementation. In the wake of Western … Read more