European sanctions on Russian oil are extremely effective. 🥴
Ht @Jkylebass pic.twitter.com/nEXBpggMwy
— Wall Street Mav (@WallStreetMav) April 29, 2023
Thanks to the sanctions, Russia is less likely to have a recession pic.twitter.com/3WTTJtBWFT
— Russian Market (@runews) April 30, 2023
2. Root problem is an infatuation with financial sanctions. These can be effective when used on current account deficit countries – Turkey in 2018 is an example – but they don't work on current account surplus countries. This is a key point that cannot be emphasized enough. pic.twitter.com/c2JIdKAZFZ
— Robin Brooks (@robin_j_brooks) April 29, 2023
China's exports since Russia invaded Ukraine
1. Belarus (blue): +90%
2. Georgia (orange): +64%
3. Uzbekistan (red): +40%
4. Kazakhstan (pink): +31%
5. Azerbaijan (black): +10%
6. Ukraine (purple): -81%Note: hard to imagine Belarus' import demand booming with a war in Ukraine… pic.twitter.com/hd51LGWQR3
— Robin Brooks (@robin_j_brooks) April 29, 2023