{"id":114305,"date":"2024-06-15T20:00:14","date_gmt":"2024-06-15T14:30:14","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=editorial-analysis&#038;p=114305"},"modified":"2024-06-17T15:09:17","modified_gmt":"2024-06-17T09:39:17","slug":"sanctions-on-russia","status":"publish","type":"editorial-analysis","link":"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/sanctions-on-russia","title":{"rendered":"Asia\u2019s Commercial Heft Helps Keep Russia\u2019s War Economy Going"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">After two years of <\/span><b>Russia\u2019s invasion of Ukraine,<\/b><span style=\"font-weight: 400;\"> many countries slapped economic sanctions on Russia. However, the<\/span><b> reorganization of trade<\/b><span style=\"font-weight: 400;\"> observed an eastward<\/span><b> shift<\/b><span style=\"font-weight: 400;\"> in the world\u2019s economic center of gravity.\u00a0<\/span><\/p>\n<table style=\"width: 100.257%;\">\n<tbody>\n<tr>\n<th style=\"width: 100%; border-style: solid; border-color: #000000; background-color: rgba(184, 165, 217, 0.53); text-align: left; vertical-align: middle;\"><span style=\"color: #000000;\"><b>Relevancy for Mains: <\/b><span style=\"font-weight: 400;\">Sanctions on Russia by the West and role played by the Asian Countries.<\/span><\/span><\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span style=\"font-size: 18pt;\"><strong>Sanctions on Russia<\/strong><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Aim: <\/b><span style=\"font-weight: 400;\">More than three dozen countries,<\/span><b> led by the West,<\/b><span style=\"font-weight: 400;\"> slapped economic sanctions on Russia to raise the cost to Russia of continuing the war.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Scope of Coverage:<\/b><span style=\"font-weight: 400;\"> They were unprecedented in their scope for a target of its size<\/span><b>, covering energy and other commodities, finance, technology, travel, shipping and more.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Ban on Oil Export: <\/b><span style=\"font-weight: 400;\">America and Europe have tried to use their control of maritime insurance and vessels to cap the price of Russian oil while ensuring it still flows, thereby avoiding a global supply crunch that would hurt their own consumers.\u00a0<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"noopener\">Enroll now for UPSC Online Course<\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><strong>Role Played by Asian Countries<\/strong><\/span><\/h2>\n<ul>\n<li><b>Contribution:<\/b><span style=\"font-weight: 400;\"> Asia accounts for<\/span><b> two-fifths of the world\u2019s GDP<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li>\n<li><b>High Trade: <\/b><span style=\"font-weight: 400;\">Asia\u2019s ever-increasing commercial pull is diverting much trade that Russia previously conducted with the West, undermining sanctions.\u00a0<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">It is despite the fact that two of the six Asian countries (Japan, and South Korea) which have joined the sanctions are among the region\u2019s five biggest economies.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>China-Russia Ties: <\/b><span style=\"font-weight: 400;\">Trade between Russia and China<\/span><b> jumped by 29% in 2022 <\/b><span style=\"font-weight: 400;\">and probably by more last year. China has also swiftly become the top supplier to Russia of <\/span><b>cars and smartphones.<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">China and Hong Kong are now Russia\u2019s chief suppliers of <\/span><b>microchips, <\/b><span style=\"font-weight: 400;\">frustrating Western efforts to starve Russia of the integrated circuits essential to the war effort.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Trade with Taiwan: <\/b><span style=\"font-weight: 400;\">Russian military enterprises are getting hold of sophisticated machine tools from Taiwan.\u00a0<\/span><\/li>\n<li><b>Trade with Central Asia:<\/b><span style=\"font-weight: 400;\"> Kazakhstan and Kyrgyzstan are key conduits for shady \u201cparallel imports&#8221; into Russia- their trade with neighbouring Russia has boomed.<\/span><\/li>\n<li><b>Trade for Oil: <\/b><span style=\"font-weight: 400;\">Russia\u2019s sales to Asia also highlight that even if the West had wanted to stop Russia\u2019s oil exports, it could not have done so. Today Russia earns more from oil exports than before the invasion.<\/span>\n<ul>\n<li><b>India is the biggest buyer <\/b><span style=\"font-weight: 400;\">of<\/span> <span style=\"font-weight: 400;\">Russia\u2019s oil<\/span><b>.\u00a0<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Singapore condemned Russia\u2019s aggression and was the only member of ASEAN to sanction Russia. Oil, though, is not covered.\u00a0<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Singapore is a refining and oil-trading giant, as well as the world\u2019s busiest bunkering port. In the year to May 2023<\/span><b> its imports of Russian oil nearly doubled <\/b><span style=\"font-weight: 400;\">and<\/span><b> demand for storage has also risen.<\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><strong>Arising Concern<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If America receives trouble getting Asians to support sanctions against Russia, then they would face much more trouble in case with China.<\/span><\/p>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+CSE+Books\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC CSE Books From PW Store<\/span><\/a><\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><strong>Conclusion<\/strong><\/span><\/h2>\n<p><b>Asia is too important, economically and geopolitically, <\/b><span style=\"font-weight: 400;\">for the West to issue such threats. Even if the West successfully uses secondary sanctions to coerce Asian countries, the <\/span><b>long-term risk<\/b><span style=\"font-weight: 400;\"> is that economic warfare undermines both the <\/span><b>primacy of the dollar-based financial system and America\u2019s influence in Asia.\u00a0<\/b><\/p>\n<table style=\"width: 99.8981%;\">\n<tbody>\n<tr>\n<th style=\"border-style: solid; border-color: #000000; background-color: rgba(184, 165, 217, 0.53); text-align: left; vertical-align: middle; width: 100%;\"><span style=\"color: #000000;\"><b>GS Paper 2: Q. Analyze the impact of the sanctions on Russia on global trade and geopolitical affairs. 15 Marks, 250 Words<\/b><\/span><\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u00a0<\/p>\n<table style=\"width: 100.036%;\">\n<tbody>\n<tr>\n<td style=\"width: 138.024%; text-align: center; border-style: solid; border-color: #000000;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Must Read<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 50.5357%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">UPSC Daily Editorials<\/span><\/a><\/td>\n<td style=\"width: 87.4888%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/pwonlyias.com\/stage\/daily-current-affairs\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">UPSC Daily Current Affairs<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 50.5357%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-textbooks?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Textbooks\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC NCERT Textbooks From PW Store<\/span><\/a><\/td>\n<td style=\"width: 87.4888%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-modules?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Modules\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC Modules From PW Store<\/span><\/a><span style=\"font-weight: 400;\">\u00a0<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 50.5357%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-previous-year-papers?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Previous+Year+Papers\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out Previous Years Papers From PW Store<\/span><\/a><\/td>\n<td style=\"width: 87.4888%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/pwonlyias.com\/stage\/upsc-test-series-courses\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">UPSC Test Series 2024<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 50.5357%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/pwonlyias.com\/stage\/quiz\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Daily Current Affairs Quiz<\/span><\/a><\/td>\n<td style=\"width: 87.4888%; text-align: center; border-style: solid; border-color: #000000;\"><a href=\"https:\/\/pwonlyias.com\/stage\/mains-answer-writing\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Daily Main Answer Writing<\/span><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 138.024%; text-align: center; border-style: solid; border-color: #000000;\" colspan=\"2\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+CSE+Books\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Check Out UPSC CSE Books From PW Store<\/span><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After two years of Russia\u2019s invasion of Ukraine, many countries slapped economic sanctions on Russia. However, the reorganization of trade observed an eastward shift in the world\u2019s economic center of gravity. <\/p>\n","protected":false},"author":11,"featured_media":114593,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"tags":[],"paper-wise":[],"subject":[],"acf":[],"_links":{"self":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/editorial-analysis\/114305"}],"collection":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/editorial-analysis"}],"about":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/types\/editorial-analysis"}],"author":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/comments?post=114305"}],"version-history":[{"count":2,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/editorial-analysis\/114305\/revisions"}],"predecessor-version":[{"id":114307,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/editorial-analysis\/114305\/revisions\/114307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media\/114593"}],"wp:attachment":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media?parent=114305"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/tags?post=114305"},{"taxonomy":"paper-wise","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/paper-wise?post=114305"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/subject?post=114305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}