Who will be next to finance Russian exports?
The Russian economy depends on exports of natural resources and commodities. The Federal Statistics Service reports that these accounted for half a trillion dollars in 2013, or 93% of all export revenues. Oil, gas, and petroleum products fetched $377 billion followed by metals ($55 billion), chemicals ($31 billion), and agricultural products ($16 billion). European banks financed the bulk of these trade flows.
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