Close Menu
  • BECOME A MEMBER
  • HAZTE MIEMBRO
  • ABOUT GEOPOLITICS & EMPIRE
  • PODCAST
  • ANALYSIS
  • DONATE / SUPPORT
  • CONSULTATION
  • SPONSORS
What's Hot

Mark Sutherland: Eugenics & Population Control in 1920s Britain & Today

May 30, 2025

Mees Baaijen: Paradigm of War Shifting to Multipolar Digital Gulag

May 28, 2025

Paid Subscriber Group Zoom Call

May 27, 2025
Substack X (Twitter) Telegram Apple YouTube RSS
X (Twitter) Telegram Substack SoundCloud Apple YouTube Odysee Facebook LinkedIn RSS
Geopolitics & Empire
BECOME A MEMBER HAZTE MIEMBRO
  • ABOUT
    • ABOUT GEOPOLITICS & EMPIRE
    • GEOPOLITICS & EMPIRE PODCAST REVIEWS
    • AUTHORS
    • CONTACT
    • MEDIA APPEARANCES
    • BOOK REVIEWS BY GEOPOLITICS & EMPIRE
    • FAQ
  • PODCAST

    Mark Sutherland: Eugenics & Population Control in 1920s Britain & Today

    May 30, 2025

    Mees Baaijen: Paradigm of War Shifting to Multipolar Digital Gulag

    May 28, 2025

    Fr Patrick Ramsey: Orthodox Views on Empire, Antichrist, & Martyr Mentality

    May 24, 2025

    Eric Yeung: The Dollar, Gold, Bitcoin, & China’s Bright Future

    May 23, 2025

    Jacob Shapiro: We Are Entering a Multipolar Geopolitical Environment

    May 20, 2025
  • ANALYSIS

    Dr. Francis Boyle Has Passed

    February 1, 2025

    Stars & Stripes Globalism: Donald Trump’s Plan for a New World Order

    January 20, 2025

    Russia & Iran: Axis of the Impotent

    August 22, 2024

    Lifting the Veil on Russia’s SMO in Ukraine: Is Putin’s Response to NATO’s Provocations a Potemkin Village?

    August 14, 2024

    Was Al-Aqsa Flood a False Flag? – Part 3

    February 27, 2024
  • DONATE/SUPPORT
  • CONSULTATION
  • SPONSORS
  • ESPAÑOL
Geopolitics & Empire
Home»Analysis»Russia & the West Keep on Doing Business Despite Sanctions & the War in Ukraine
Analysis

Russia & the West Keep on Doing Business Despite Sanctions & the War in Ukraine

Nikola MikovicBy Nikola MikovicApril 10, 2023No Comments5 Mins Read
Twitter Telegram LinkedIn Facebook Email
Vice President Joe Biden greets Russian Prime Minister Vladimir Putin at the Russian White House, in Moscow, Russia, March 10, 2011. (Official White House Photo by David Lienemann).
Share
Twitter Telegram LinkedIn Facebook Email

“War is only a passing phase in business life”, said James Gordon Farrell, an English-born novelist of Irish descent. Indeed, despite the conflict in Ukraine that resulted in dozens of thousands of dead troops, as well as millions of displaced people, the Kremlin and its Ukrainian and Western partners seem to attempt to continue doing business as usual.

The war in the Eastern European country had a significant impact on the global economy, although it did not lead to a complete economic “decoupling” between Russia and the West. The European Union, in response to the Russian invasion of Ukraine, imposed several packages of sanctions against Russia, but to this day it continues (indirectly) purchasing Russian gas and oil. Also, most Western companies still operate in Russia, even though the European Parliament declared the Russian Federation to be a “state sponsor of terrorism”.

The Kremlin, for its part, repeatedly extends the UN-brokered grain deal that allows Ukraine to freely exports its grains, consolidate its budgets, and reportedly even get weapons via the Black Sea route. By doing so, Moscow consciously helps its opponent improve its performances ahead of the imminent military offensive in the southeast of the country. Further, more than one year after Russia launched the full-scale invasion of Ukraine, Moscow still uses Ukrainian pipelines for gas exports to Europe. At the same time, Russia continues exporting its gas and oil to “unfriendly” European countries, who then re-export energy to Ukraine. Reports suggest that Ukraine gets the de facto Russian gas from Poland, as well as from the Baltic states such as Latvia, Lithuania and Estonia. Moreover, it is not a secret that Bulgaria purchases oil from Russia, and then re-exports it to Ukraine.

Some EU nations have officially stopped importing Russian oil directly from “the state sponsor of terrorism”, but they continue purchasing it from third countries. For instance, record high imports of crude oil from Russia in fiscal 2022-23 have helped India’s refiners boost exports of diesel and jet fuel to Europe. Further, this year energy-rich Azerbaijan plans to increase its natural gas exports to Europe, but that does not necessarily mean that the South Caucasus nation will export its own gas. At the end of 2022, Russia’s energy-giant Gazprom has reportedly started increasing its gas exports to Azerbaijan. Could it be that Azerbaijan is supplying Europe with the de facto Russian gas?

Energy is not the only aspect of economy where Russia, Ukraine and the West continue doing business more or less as usual. Less than 9 percent of about 1,400 EU and G7 companies that had subsidiaries in Russia before Moscow invaded Ukraine divested from the Russian Federation. In addition, some Western enterprises continue supplying Russia with technology. A British company Mykines Corporation LLP appears to have arranged the sale of about $1.2 billion of electronics into Russia. It is believed that at least $982 million of the goods listed as sent by Mykines are subject to restrictions on export by UK companies or individuals to Russia.

The Kremlin, on the other hand, continues portraying the West, particularly the United States, as its arch enemy, but that does not prevent Moscow from purchasing US government securities. In October 2022, Russia’s investment in the US government securities reached $2 billion. Even though in March this year Russia adopted a new foreign policy concept that describes the US as “the main instigator, organizer and executor of the aggressive anti-Russian policy of the collective West”, it is extremely unlikely that “the collective Putin” will stop investing in the American financial system anytime soon, if at all.

Russia’s ally Belarus also continues cooperating with the West. On March 30, which is when Russia added Hungary to its list of “unfriendly nations”, Belarusian and Hungarian business people held a meeting in the Central European country aiming to increase economic ties between the two states. Previously, on February 13, Hungary’s Foreign Minister Peter Szijjarto visited Minsk, despite various sanctions the EU has imposed on the former Soviet Republic. The following month, on March 24 – despite the air embargo the European Union has imposed on Belarus in 2021 – an “air ambulance” from France arrived in Belarus. On that day, Bernard Emie, the head of the General Directorate for External Security of the French Ministry of Defense (DGSE), visited Belarus where he met with the country’s officials. Could it be that the West, despite a new Cold War, does not want to burn all bridges with Minsk?

There is a Russian proverb saying “For some people war is war, for others – dear mother”. In other words, some people suffer from war, while some people make a fortune from it. As the American writer Thomas Pynchon wrote in his novel Gravity’s Rainbow in 1973, “The real business of war is buying and selling”. And that is exactly what Russia and its Western and Ukrainian partners are doing.

Russia Ukraine United States
Share. Twitter Telegram LinkedIn Facebook Email
Previous ArticleBlame The War on Terror for Skepticism of Endless Aid to Ukraine
Next Article Will China Get Latin America Off the Dollar?
Nikola Mikovic
  • Website
  • X (Twitter)

Nikola Mikovic is a freelance journalist, researcher and analyst based in Serbia. His work focuses mostly on the foreign policies of Russia, Belarus and Ukraine. His area of focus is the ongoing conflict in the Donbass, as well as relations between Russia and former Soviet republics. Nikola also covers Russia's involvement in Syria and Libya. He writes for several publications such as Diplomatic Courier, Asia Times, CGTN, Tsarizm, Global Comment, among others.

Related Posts

Stuart J. Hooper: Global Flashpoints & Trump’s Geopolitical Legacy

May 14, 2025

Mike Shelby: Fortress America, Civil War 2.0, & World War 3.0?

May 5, 2025

Edward Luttwak: The Balance of Power, Tariffs, & Future of the American Dream

April 24, 2025

Thorsten Pattberg: West Dominated for Centuries, Asia Now Returning to Forefront

April 15, 2025

Comments are closed.

Substack

Social Media
  • X (Twitter)
  • Telegram
  • SoundCloud
  • Apple
  • YouTube
  • Odysee
  • BitChute
  • Rumble
  • LinkedIn
  • Facebook
  • Instagram
  • Gab
Recent Posts
Podcast

Mark Sutherland: Eugenics & Population Control in 1920s Britain & Today

By Geopolitics & EmpireMay 30, 20250

Mark Sutherland discusses the historical context and ongoing relevance of eugenics and population control, as…

Mees Baaijen: Paradigm of War Shifting to Multipolar Digital Gulag

May 28, 2025

Paid Subscriber Group Zoom Call

May 27, 2025

GAE’s Weekly Headlines & Commentary

May 27, 2025
About
About

The Geopolitics & Empire Podcast conducts interviews with prominent international experts on a wide-range of topics. The broadcast seeks to gain insight from guests who come from the left, right, and beyond. The host does not always agree with beliefs espoused by podcast invitees, but maintains an open mind, and believes it important to respectfully listen to a multitude of voices and let listeners come to their own conclusions.

Top Headlines

Mark Sutherland: Eugenics & Population Control in 1920s Britain & Today

May 30, 2025

Mees Baaijen: Paradigm of War Shifting to Multipolar Digital Gulag

May 28, 2025

Paid Subscriber Group Zoom Call

May 27, 2025
Site Map
  • About Geopolitics & Empire
  • Geopolitics & Empire Podcast Reviews
  • Podcast
  • Analysis
  • Donate / Support
  • Consultation
  • Become a Member
  • Sponsors
  • FAQ
  • Contact
Substack X (Twitter) Telegram SoundCloud Apple Spotify YouTube Odysee Rumble BitChute Brighteon VK Gab MeWe Minds LinkedIn Facebook Instagram RSS
© 2015 - 2025 Geopolitics & Empire. Web Design by Etailing. Domains by easyDNS. Hosting by EuroVPS.

Type above and press Enter to search. Press Esc to cancel.

Sign In or Register

Welcome Back!

Login to your account below.

Lost password?