The Impact of Sanctions Imposed in Connection with the War in Ukraine on World Trade Relations

Yelmagambetova G. Dalelkhan A. Nurdavletova S. Kussainova A. Kakenova Z.
2025 Brill Nijhoff

Journal of International Peacekeeping
2025 #28 Issue 3 334 - 358 pp.

The purpose of the study is to determine changes in global trade flows due to the imposition of sanctions on the Russian government after the full-scale invasion of Ukraine. The study includes an analysis of the following media: Blomberg, the Financial Times, and a documentary analysis of reports from the World Bank and Project Expedite Justice, an analytical publication from the Research and Development corporation. A sociological survey was conducted among entrepreneurs of Kazakhstan in September 2024. The results of the study demonstrate a sharp decline in bilateral trade relations between the European Union and Russia in 2022–2024. In this regard, in 2024, more than 90% of petroleum products for the European Union are imported from the United States of America, Norway, and the Netherlands. However, trade flows of petroleum products from Russia have also diversified, with the governments of China, India, and Brazil becoming the main buyers in 2023–2024. It is also noted that in 2022, prices for such groups of goods as coal, oil, and flour increased by more than 140% compared to the price indices from 2010, but wood, metals, and minerals practically did not rise in price. Another notable trend, as the results of the study show, is an increase in exports of goods from European countries to Central Asian countries. For example, exports from Germany to Kazakhstan increased from USD 1.7 billion in 2021 to USD 3.4 billion in 2023. As a result, the sanctions have resulted in almost complete restrictions on trade between the European Union and Russia. However, global trade relations are marked by their flexibility due to the “shadow” trade and the search for alternative trading partners.

agricultural sector , diversification of economic ties , petroleum products , price increase

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Department of International Relations, L.N. Gumilyov Eurasian National University, Astana, Kazakhstan

Department of International Relations

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