Despite their ‘no limits’ friendship, Russia is paying a nearly 90% markup on sanctioned goods from China — compared to 9% from other countries

Despite their ‘no limits’ friendship, Russia is paying a nearly 90% markup on sanctioned goods from China — compared to 9% from other countries


A recent report from the Bank of Finland Institute for Emerging Economies found that the median price Russia paid for Chinese exports of sanctioned products soared 87% between 2021 and 2024. While the value of Chinese ball-bearing exports to Russia jumped by 76% from 2021 to 2024, the quantity of exports actually dropped by 13%, indicating that the unit price doubled. The reports come amid signs that the Kremlin has proposed business deals with the U.S. as part of talks to the end the Ukraine war and lift sanctions.

Author: Jason Ma

Published at: 2025-11-29 23:44:47

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