Gleb Stolyarov of Reuters reports on the booming trade partnership between Russia and China thanks to Western firms abandoning the Russian market. Stolyarov writes:
Business at Nikita Minenkov’s logistics company, based near the Amur River that marks the border between Russia and China, was going well. Since Moscow’s invasion of Ukraine it’s gone even better – company turnover has doubled for two years running.Minenkov’s Eurasia Logistics Group is one of multiple Russian businesses to benefit from a sharp uptick in trade with China, since Western firms abandoned the Russian market after the invasion of Ukraine and the imposition of sanctions. […]
“We used to deal with spare parts,” he said. But the company pivoted as the European market closed to Russia and demand for equipment from China jumped.“Demand generates supply,” he said. “We did not create the market, the market created (us).”
Read more here.
