Too much of a good thing? Russia-EU international trade relations at times of war
Journal: Journal of Industrial and Business Economics
Year: 2022

Abstract In this paper, we investigate the evolution of Russia’s position in the world trade system, especially in relation to the European Union (EU). Data show that after entering into the WTO, Russia did not use this accession to develop and diversify trade flows (like China did, for example) but it augmented its specialization in fuels and raw materials, increasing its dependency on the rest of the world, and especially on European demand. Russia did not exploit its trade potential and its f