NEW DELHI: During a two-day visit to China, Russian foreign minister Sergey Lavrov said that
Russia and China
have successfully navigated the challenges posed by
Western sanctions
through multilateral formats like
BRICS
and the
Shanghai Cooperation Organization
(SCO). This strategy has allowed Moscow to mitigate the impact of the restrictions imposed in response to the Ukraine conflict that began in 2022.
BRICS, originally consisting of Brazil, Russia, India, China, and South Africa, welcomed four new members at the start of the year - Ethiopia, Iran, Egypt, and the United Arab Emirates.
Lavrov highlighted the bloc's growing political and economic influence, especially in the wake of the sanctions against Russia. None of the BRICS nations have participated in the Western sanctions campaign, instead choosing to continue or even increase trade with Russia.
As per a
Russia
Today report, during a press conference with his Chinese counterpart Wang Yi, Lavrov mentioned that Wang has developed a strategy to neutralize the sanctions' effects. “My colleague spoke in detail about specific economic gaps that emerge as a result of the illegal policy of unilateral sanctions and which we will solve within the framework of BRICS and within the SCO,” Lavrov said.
In light of Western sanctions, Russia has shifted its trade focus to the Asia-Pacific region, with China emerging as a significant partner. In the past year, trade between Russia and China reached a new high of $240 billion, surpassing the $200 billion target set by both governments.
The visit coincides with US Treasury Secretary Janet Yellen’s trip to Beijing, where she warned Chinese companies of "significant consequences" should they assist the Russian military. The US, under President Joe Biden, has enacted executive orders allowing for sanctions against foreign institutions that maintain dealings with Russia, targeting entities outside the US and EU believed to be facilitating Russia's acquisition of sensitive items, including semiconductors and optical systems.
Lavrov criticized the Western sanctions policy, asserting that it has failed to destabilize Russia's economy and has instead had adverse effects on the sanctioning countries.
English (US) ·