https://www.investmentmonitor.ai/special-focus/ukraine-crisis/yale-study-russian-economy-hit-sanctions
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“Russia’s strategic positioning as a commodities exporter has irrevocably deteriorated, as it now deals from a position of weakness with the loss of its erstwhile main markets, and faces steep challenges executing a ‘pivot to Asia’ with non-fungible exports such as piped gas,” writes Yale.
For example, in terms of natural gas, Russia is far more dependent on Europe than the other way round. So, although EU countries have made many headlines about the pain of decreased Russian gas, it is the Russian economy that is hurting most by the shift in natural gas supply chains away from its traditional and key market. To clarify, Russian gas exports to Europe have hit near-record lows, as has the revenue associated with it.
Meanwhile, Putin has made a lot of noise about diversifying commodity exports to Asia, but Russia’s Asian pipeline network contains but a fraction of the capacity of the European pipeline network. Even long-planned Asian pipeline projects currently under construction remain years away from becoming operational, according to Yale.
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