Geopolitics are changing fast, and the Ukraine crisis has brought Russia closer to its eastern neighbors. Russia has trillion dollar deals with the West, but may swap them for faster growing and bigger economies like India and China.
The West is likely to continue sanctions against Russia over its suspected involvement in Ukraine, and put further restrictions on the Russian economy, whether goods or services, thus shifting Russia towards Asian markets which are growing faster.
“It’s a case of when you shut a door, another opens elsewhere. As far as sanctions are concerned, yes it will damage Russia temporarily, but then Russia will have to start looking elsewhere to sell the goods that it makes,” David Duo, Market Analyst at The Motley Fool told RT.