OREANDA-NEWS Trade turnover between Russia and China has dropped sharply since the start of Russia's special military operation in Ukraine, despite Beijing's failure to impose sanctions against Moscow, the Peterson Institute for World Economics in Washington said. The Peterson Institute for World Economics in Washington said, according to Gazeta.ru.

Experts believe that the decline in exports from China to Russia can be explained by the fact that Chinese companies do not want to once again be under sanctions by the West, thereby losing access to Western technology markets.

The study states that Chinese exports to Russia have decreased by 38% since the beginning of the special operation compared to the second half of 2021. This figure corresponds to the average value for states that have not imposed anti-Russian sanctions.

The second reason for the decrease in Sino-Russian trade turnover is the decision of multinational corporations operating in China, which now account for half of China's exports.

In early July, the General Administration of Customs of the PRC reported that Russia and China increased their trade turnover by almost 30% in the first five months of 2022.