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Cake day: February 22nd, 2024

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  • • Despite sanctions, Russia adapts by engaging with strategic partners like China to circumvent restrictions.

    • China has replaced Western nations as a major supplier of goods to Russia, with trade between the two reaching $240 billion in 2023. In 2021, the total trade between the two countries was approximately $147 billion.

    • Specific exports from China to Russia include CNC machines, semiconductors, microelectronics, ball bearings, nitrocellulose, drones, and construction equipment.

    • The Sino-Russian relationship has deepened, with both nations criticizing the U.S. and increasing their cooperation.

    Bottom line: China don’t care. But we knew this already.