With gas and oil exports accounting for 30 to 40 percent of Russia's budget, Switzerland's position in this wartime equation cannot be underestimated. This is how Switzerland is helping Russia avoid sanctions.
The Russian ruble has undergone an astonishing recovery, surging to levels not seen in almost two years, after losing over half of its value in March owing to Western sanctions. Sergey Kopylov, a junior partner at consultancy firm BSC and a lead researcher at Plekhanov Russian University of Economics, unravels the mystery of the rising ruble.
The sanctions imposed on Russia by the West to punish it for its military action in Ukraine have caused Beijing to conduct massive stress tests modeling the impact of Russia-style sanctions on China.
Russian Foreign Minister Sergey Lavrov stated on Sunday that more than $300 billion was robbed from Russia, the bulk of which was payouts for oil and gas deliveries, since energy giant Gazprom was required to deposit money in Western bank accounts.
China is undertaking significant measures to brace for possible future US sanctions, such as those placed on Russia's financial sector, with authorities recently holding an emergency session of domestic and international institutions to discuss how the nation's overseas assets can be best protected. To counter this, China held secret bank meetings to plan for protecting assets from US sanctions.
According to individuals acquainted with the situation, India is set to buy stakes in offloaded western oil companies in Russia.
The sanctions placed by the US OFAC on Russian diamond producer Alrosa PJSC earlier this month have blocked the flow of Russian diamonds to India.
Cash from India and China is helping the Russian economy stay afloat as the next stage of Russia's incursions commences. Here is how the Russia India China axis is defeating the western sanctions over Ukraine.
French presidential candidate Marine Le Pen in a recent interview said that Americans are indifferent to the ordinary French people and their predicament and that the US should compensate France for losses if the EU bans Russian gas.
Despite exempting several sectors from sanctions, the US is warning India that increased trade with Moscow will result in grave repercussions. Yet, Indian firms have begun the process to accept China's yuan for their exports.