Contemporary Foreign Economic Relations of Russia with the Countries of Northern Europe

Recently new problems have arisen that have complicated Russia’s foreign economic relations with foreign countries. The countries of Northern Europe were no exception. The economic situation in many countries was far from optimal. Problems with economy took place in the euro area. A significant drop...

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Autor principal:	A. M. Volkov
Formato:	article
Lenguaje:	EN RU
Publicado:	Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”) 2021
Materias:	russia finland sweden denmark norway foreign trade export import International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/3983ab65f762475a8352ff63e48a908c
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id	oai:doaj.org-article:3983ab65f762475a8352ff63e48a908c
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spelling	oai:doaj.org-article:3983ab65f762475a8352ff63e48a908c2021-11-07T14:45:05ZContemporary Foreign Economic Relations of Russia with the Countries of Northern Europe2542-02402587-932410.23932/2542-0240-2021-14-3-10https://doaj.org/article/3983ab65f762475a8352ff63e48a908c2021-07-01T00:00:00Zhttps://www.ogt-journal.com/jour/article/view/804https://doaj.org/toc/2542-0240https://doaj.org/toc/2587-9324Recently new problems have arisen that have complicated Russia’s foreign economic relations with foreign countries. The countries of Northern Europe were no exception. The economic situation in many countries was far from optimal. Problems with economy took place in the euro area. A significant drop in oil prices led to a slowdown in economic growth in the Russian Federation and a sharp decline of ruble exchange rate. Since 2014, various Western sanctions have emerged, followed by retaliatory sanctions from Russia. Against this background, the analysis of the dynamics of Russian economic relations with the Nordic countries is of particular interest. A sharp decline in foreign economic indicators occurred in 2015–2016. Subsequent development has shown different dynamics. On the one hand, by the end of the 2010s foreign trade with Finland and Sweden did not reach the level of 2013–2014 (primarily due to the decline in oil prices), but on the other, foreign trade indicators with Denmark and Norway were exceeded (due to Russian exports). Year 2020 brought new problems – the coronavirus pandemic and the associated restrictions on the movement of goods, services and people, as well as the rupture of production chains, which had an impact on foreign economic relations – and exacerbated the old ones: a new sharp drop in oil prices and a new depreciation of ruble. The article reveals the features of the general dynamics and commodity structure of foreign trade with each of the observed countries. The significant dependence of Russian exports, primarily on energy supplies, is considered in detail. Special attention is given to the general dynamics of foreign direct investment in Russia. The problems of modern development of Russian export and import were analyzed.A. M. VolkovАссоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)articlerussiafinlandswedendenmarknorwayforeign tradeexportimport International relationsJZ2-6530ENRUКонтуры глобальных трансформаций: политика, экономика, право, Vol 14, Iss 3, Pp 176-188 (2021)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	russia finland sweden denmark norway foreign trade export import International relations JZ2-6530
spellingShingle	russia finland sweden denmark norway foreign trade export import International relations JZ2-6530 A. M. Volkov Contemporary Foreign Economic Relations of Russia with the Countries of Northern Europe
description	Recently new problems have arisen that have complicated Russia’s foreign economic relations with foreign countries. The countries of Northern Europe were no exception. The economic situation in many countries was far from optimal. Problems with economy took place in the euro area. A significant drop in oil prices led to a slowdown in economic growth in the Russian Federation and a sharp decline of ruble exchange rate. Since 2014, various Western sanctions have emerged, followed by retaliatory sanctions from Russia. Against this background, the analysis of the dynamics of Russian economic relations with the Nordic countries is of particular interest. A sharp decline in foreign economic indicators occurred in 2015–2016. Subsequent development has shown different dynamics. On the one hand, by the end of the 2010s foreign trade with Finland and Sweden did not reach the level of 2013–2014 (primarily due to the decline in oil prices), but on the other, foreign trade indicators with Denmark and Norway were exceeded (due to Russian exports). Year 2020 brought new problems – the coronavirus pandemic and the associated restrictions on the movement of goods, services and people, as well as the rupture of production chains, which had an impact on foreign economic relations – and exacerbated the old ones: a new sharp drop in oil prices and a new depreciation of ruble. The article reveals the features of the general dynamics and commodity structure of foreign trade with each of the observed countries. The significant dependence of Russian exports, primarily on energy supplies, is considered in detail. Special attention is given to the general dynamics of foreign direct investment in Russia. The problems of modern development of Russian export and import were analyzed.
format	article
author	A. M. Volkov
author_facet	A. M. Volkov
author_sort	A. M. Volkov
title	Contemporary Foreign Economic Relations of Russia with the Countries of Northern Europe
title_short	Contemporary Foreign Economic Relations of Russia with the Countries of Northern Europe
title_full	Contemporary Foreign Economic Relations of Russia with the Countries of Northern Europe
title_fullStr	Contemporary Foreign Economic Relations of Russia with the Countries of Northern Europe
title_full_unstemmed	Contemporary Foreign Economic Relations of Russia with the Countries of Northern Europe
title_sort	contemporary foreign economic relations of russia with the countries of northern europe
publisher	Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)
publishDate	2021
url	https://doaj.org/article/3983ab65f762475a8352ff63e48a908c
work_keys_str_mv	AT amvolkov contemporaryforeigneconomicrelationsofrussiawiththecountriesofnortherneurope
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Contemporary Foreign Economic Relations of Russia with the Countries of Northern Europe

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