Research on China-Russia Bilateral Trade Relations under the Western Sanctions

Abstract

Based on a study of China-Russia trade development following the Russia-Ukraine war, this paper finds that under Western sanctions, bilateral trade demonstrates a "sanctions substitution" effect, characterized by upgraded commodity structures, de-dollarization in settlements, and deepened institutional regional cooperation. The cooperation potential primarily lies in industrial complementarity, emerging sectors such as e-commerce and agricultural technology, and policy coordination advantages. Current challenges include financial gaps, technological barriers, and compliance pressures resulting from external sanctions, as well as insufficient internal coordination mechanisms. To address these challenges, this paper proposes three targeted measures. These findings aim to promote higher-quality development of China-Russia bilateral trade.