The European Union, the United States and the United Kingdom have imposed harsh economic penalties on Russia, sanctioning hundreds of wealthy citizens and government officials and largely cutting the country off from the international financial system. And Russia’s long-standing economic ties with Europe are gradually being unknotted, and new alliances are forming as goods are rerouted to other countries, the data shows. Prices for fuel and other products have risen at a time of record inflation. Food is in short supply in many countries that rely on wheat and other staples grown outside their borders. “There is no substitute.”Īs it drags on, the war, and the world’s response to it, are bringing about a remarkable change in international trade flows. “It’s very difficult to live without Russian resources,” said Sergey Aleksashenko, the former deputy finance minister of Russia and deputy chair of its central bank.
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