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How is Russia not Financially Crippled?
(lemmy.world)
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this post was submitted on 17 Jan 2024
329 points (98.2% liked)
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Russia lived with sanctions for 70 some years as the Soviet Union, and has always been prepared to endure more. They are an economy built around raw, natural resources and can be largely self-sustaining...
And it has been pointed out, that Iran has been fighting off sanctions very successfully over the last twenty, thirty yeas...
Their secret then is Russia' secret now, more or less:
India will trade with anybody and be neutral, and it isn't a large task to create a shell company in India that peddles your wares throughout the whole of the world, repackaged and rebranded. At the height of Trump's reintroduced sanctions on Iran, I was able to eat Iranian dates in South Korea - a country that followed US protcols and actually made it impossible for Iranians to start new private bank accounts unless in specific circumstances and did everything they could to place barriers on trade.
Heed you, these shell companies used to exist in places like Macao, Hong Kong, Singapore, etc., but US sanctions shut this down. It all moved to India...
Which is likely where a lot of Russian exports head when they aren't just being imported completely independent of the Western world to places like Iran and China... China, of course, is another factor, as trade between RU and CN have increased exponentially over the last few years since the war started...
I could go on but, already, I am rambling... Suffice it to say, there's a mssive block of countries that hate Western imperialism and/or are neutral and/or already face sanctions, and this network continues to trade with one another, and they also have begun to help facilitate one another trading with the West, either knowingly or just because they lack the will or robust enough resources to police it up.
Globalization is its own enemy when it comes to the West trying to impose sanctions, IMO.
Most companies don't bother to setup a shell company. International businesses often have an existing distributors in several different countries.
When one country gets sanctioned a distributor in a neutral country suddenly increases their local sales by the same amount that the one in the sanctioned company used to have.
I used to work in international business a decade ago. I learned about a customer on the Saudi peninsula who purchased a huge amount of product (1,000x more than their entire market). It was strangely enough to cover Iran not that far away across the Persian Gulf.
Very cool, thank you