Russia can earn much more in East than in West

NCC President Kirill Babaev has told  to Izvestia that the attempts of EU members to shun Russian exports achieved nothing but losses of Europe itself.

^{“In 2023 alone, Russia increased grain exports to Asian countries almost fivefold, and this growth continues. Eastern markets have become the main markets for Russian fertilizers and pulp. As a result, it turned out that in the East the Russian Federation can earn much more than in the West.”}

He also explained why the loss of the European market was not catastrophic for the Russian economy.

^{“The Russian economy’s turn to the East of the Russian economy was unprecedentedly fast. For example, the chief Russian export industry, energy, managed to boost pipeline gas exports to China from 4 billion to 22 billion cubic meters from 2020 to 2023, while oil exports to China more than doubled (from $29 billion to $60 billion per year).}

Photo: TASS/Yury Smityuk