Trade with Ukraine has considerably reduced following the martial law in Ukraine and the mobilization of men. For sites that still produce in western Ukraine, the problem is to transport to Europe, as Ukrainian truckers are not allowed to leave Ukraine. We cannot expect a change by the end of the war. Russian exporters are nonetheless subject to payment and transport difficulties.Banks sanctioned and excluded from SWIFT (Sberbank, VTB, Otkritie, Sovkombank, Promsvyazbank, Novikombank) represent half of the Russian banking system. Exporters are turning to other banks to solve this problem. The ...
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