{"id":14500,"date":"2025-02-26T11:47:46","date_gmt":"2025-02-26T09:47:46","guid":{"rendered":"https:\/\/stage.kse.ua\/news\/kse-vice-president-elina-ribakova-testifies-before-the-commission-on-russia-china-economic-ties-and-sanctions-evasion\/"},"modified":"2025-02-26T11:47:46","modified_gmt":"2025-02-26T09:47:46","slug":"kse-vice-president-elina-ribakova-testifies-before-the-commission-on-russia-china-economic-ties-and-sanctions-evasion","status":"publish","type":"news","link":"https:\/\/kse.ua\/en\/news\/kse-vice-president-elina-ribakova-testifies-before-the-commission-on-russia-china-economic-ties-and-sanctions-evasion\/","title":{"rendered":"KSE Vice President Elina Ribakova Testifies Before the Commission on Russia-China Economic Ties and Sanctions Evasion"},"content":{"rendered":"

Download full material<\/a><\/p>\n

Elina Ribakova, Director of the International Affairs Program and Vice President for Foreign Policy at the Kyiv School of Economics, testified before the U.S.-China Economic and Security Review Commission during a hearing on \u201cAn Axis of Autocracy? China\u2019s Relations with Russia, Iran, and North Korea.\u201d<\/p>\n

Since Russia\u2019s full-scale invasion of Ukraine and the imposition of Western sanctions, China has become Russia\u2019s largest trading partner. In 2023, China accounted for 34% of Russia\u2019s total trade turnover, while Russia made up only 4% of China\u2019s trade, highlighting the deep asymmetry in their economic relationship.<\/p>\n

\u201cChina is the most critical enabler of Russia\u2019s war economy. Without Chinese trade and support in sanctions evasion, Russia would struggle to generate revenues and secure critical components for its military production,\u201d says Elina Ribakova.\u00a0<\/p>\n

Despite claims of a \u201cno limits\u201d partnership, China remains cautious in fully aligning with Russia, especially regarding Western financial sanctions. Chinese banks and companies avoid transactions that could expose them to sanctions, prioritizing their global business interests, as Russia remains a relatively small market for them.<\/p>\n

At the same time, Russia’s growing dependence on the Chinese market, circumvention networks, financial infrastructure, and the tightly controlled yuan is creating new vulnerabilities for Russia.<\/p>\n

While over 90% of Russia-China trade is now conducted in rubles and yuan, trade growth slowed in 2024, and at times even declined, as both countries sought new ways to circumvent sanctions. However, they still rely on Western financial infrastructure, as BRICS countries have shown little interest in developing alternative payment systems.<\/p>\n

Elina Ribakova outlined 3 policy recommendations<\/b> for congressional consideration to reduce Russia\u2019s economic and military reliance on China:<\/p>\n

\u2022 Replace the current energy sanctions regime<\/b> with a framework that imposes greater costs on Russia without providing economic benefits to China through cheaper energy.<\/p>\n

\u2022 Ensure that export controls on critical technology are effectively enforced in the case of Russia,<\/b> as their implementation serves as a test case for broader restrictions on exports to China in the future.<\/p>\n

\u2022 Leverage the continued dominance of the Western financial system<\/b> to strengthen the enforcement of sanctions and related measures globally.<\/p>\n

Russia and China\u2019s challenge to the rules-based international order is a coordinated joint effort. Easing sanctions on Russia could lead to a role reversal, allowing Moscow to assist China in evading future sanctions. \u201cLike interconnected vessels, reducing pressure on one inevitably strengthens the other,\u201d says Elina Ribakova.\u00a0<\/p>\n

Watch the full hearing and read Elina Ribakova\u2019s testimony here: https:\/\/t.ly\/BcGOa<\/a>\u00a0<\/p>\n

This testimony was prepared jointly with KSE Institute Sanctions Team, which provides in-depth research and policy recommendations on Russia\u2019s sanctions evasion and economic dependencies.<\/em><\/p>\n

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Download full materialElina Ribakova, Director of the International Affairs Program and Vice President for Foreign Policy at the Kyiv School of Economics, testified before the U.S.-China Economic and Security Review Commission during a hearing on \u201cAn Axis of Autocracy? China\u2019s Relations with Russia, Iran, and North Korea.\u201d Since Russia\u2019s full-scale invasion of Ukraine and the\u2026<\/p>\n","protected":false},"featured_media":0,"template":"","categories":[251],"tags":[242,254],"department":[],"news_type":[34],"project":[],"region":[108],"unit":[223],"class_list":["post-14500","news","type-news","status-publish","hentry","category-sanctions-en","tag-revenues-en","tag-sanctions-en","news_type-news","region-russia","unit-institute-en"],"acf":{"primary_unit":223,"news_intro":"","header_cta_mode":"event","header_event_cta_text":"\u0414\u043e \u043f\u043e\u0434\u0456\u0457","header_event_cta_url":"","header_research_cta_text":"\u0427\u0438\u0442\u0430\u0442\u0438 \u0432\u0441\u0435 \u0434\u043e\u0441\u043b\u0456\u0434\u0436\u0435\u043d\u043d\u044f","header_research_pdf":null,"author_person":"","author_name":"","related_news":null,"related_events":[],"related_people":[],"related_links":null,"external_link":"","external_link_label":"","is_featured":false,"is_featured_archive":false,"quote_text":"","quote_author":"","quote_author_role":"","program_title":"\u0424\u043e\u0440\u043c\u0430\u0442 \u043f\u0440\u043e\u0433\u0440\u0430\u043c\u0438","program_items":null,"reference_title":"\u0414\u043e\u0432\u0456\u0434\u043a\u0430","reference_content":"","source_system":"migration","source_id":"63055","content_owner":"kse","last_reviewed":null,"visibility":"public","platform_id":"","platform_version":"","platform_managed":false},"yoast_head":"\nKSE Vice President Elina Ribakova Testifies Before the Commission on Russia-China Economic Ties and Sanctions Evasion - KSE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kse.ua\/en\/news\/kse-vice-president-elina-ribakova-testifies-before-the-commission-on-russia-china-economic-ties-and-sanctions-evasion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KSE Vice President Elina Ribakova Testifies Before the Commission on Russia-China Economic Ties and Sanctions Evasion\" \/>\n<meta property=\"og:description\" content=\"Download full materialElina Ribakova, Director of the International Affairs Program and Vice President for Foreign Policy at the Kyiv School of Economics, testified before the U.S.-China Economic and Security Review Commission during a hearing on \u201cAn Axis of Autocracy? 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