TRANSFORMATION OF RUSSIAN FOREIGN TRADE SINCE 2014
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Author(s): | Dluskaya V. V., |
| Number of journal: | 2(75) | Date: | June 2026 |
| Annotation: | Domestic foreign trade has undergone significant changes over the past decade under the influence of Western sanctions. The structure of key trading partners and the relative weight of exported and imported goods have shifted. Certainly, for a number of export-oriented industries (mining, metallurgy, agriculture, and the food industry), these changes have become a turning point. Given the relevance of the issue, the current study aims to analyze the transformation of Russian foreign trade over the specified period, beginning with the onset of the active phase of sanctions on our country in 2014. The study demonstrates that the 2014 sanctions had a relatively short-lived effect on the reorientation of Russian foreign trade from West to East. And in 2021, the situation practically returned to the pre-sanction level. However, the sanctions of 2022 led to a radical change in course: 76% of exports now go to and 73% of imports come from Asian countries (excluding Japan and South Korea), compared to only 32% and 37%, respectively, in 2021. This indicates a shift in the focus of political and economic relations to Asia. These are primarily China, India, and Turkey in terms of exports (58.3% in total for 2024). In terms of imports, these are China, Kazakhstan, and Turkey (63.3%). In terms of goods, the main effect of the sanctions was a decrease in the share of mineral products in exports, amid an increase in the share of gold, fertilizers, and agricultural products. Overall, the data indicate a dual impact of the sanctions on both the structure of partner countries and the composition of trade in goods. Judging by the dynamics, we can expect a further reduction in the export of mineral products against the background of an increase in non-fuel exports, as well as an increase in the concentration of the main focus of trade with countries in Asia, Africa, and Latin America. | ||
| Keywords: | analysis, foreign trade, dynamics, imports, prospects, sanctions, structure, shares, factors, exports |
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| For citation: | Dlusskaya V. V. Transformation of Russian foreign trade since 2014. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2026;2(75):96—101. DOI: 10.25683/VOLBI.2026.75.1580. |
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