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Russia Is in Topsy-Turvy World Where Belarus Tops German Exports

  • Efforts to bypass sanctions can’t make up for plunging imports
  • Major trading partners including China still cutting shipments

Russian efforts to rewire trade flows and bypass sanctions for the war in Ukraine can’t make up for the collapse in imports that’s crippling its economy.

One stark result so far: For the first time, Belarus, a neighboring country that Russia used to help stage the invasion, in April leapfrogged Germany -- an economy more than 60 times bigger -- by the value of imports to Russia, according to a Bloomberg analysis of the latest data.