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The adaptation of Russian regions' economies to the rupture of relations with Europe: the case of Baltic Sea ports
[journal article]
Abstract Despite the sweeping economic sanctions imposed by Western countries, Russia has managed to avoid a significant recession, experiencing recovery growth. The situation in the regions earlier involved in cooperation with Europe was more complicated. Yet, these territories have also succeeded in revivi... view more
Despite the sweeping economic sanctions imposed by Western countries, Russia has managed to avoid a significant recession, experiencing recovery growth. The situation in the regions earlier involved in cooperation with Europe was more complicated. Yet, these territories have also succeeded in reviving their economies and returning to growth. A number of growth areas have emerged in the Russian regions, which continue to develop under sanctions. A prime example of this is Russian seaports. This article examines the factors that enabled Russian businesses, including those operating in Baltic Sea ports, to adapt to the sanctions and continue operations. To do so, a comprehensive analysis was conducted, with a focus on macroeconomic, sectoral, regional, and corporate statistics. In addition, scholarly articles and information from business media were examined, and a survey was conducted among Russian enterprises operating across various industries and regions of the country. This study traces the history of economic relations between Russia and Europe over the past twenty-five years, examining the impact of Western sanctions on Russia’s spatial development, the response of Russian maritime transport to these sanctions, and the adaptation measures taken. It also evaluates the performance of Russian Baltic ports between 2022 and 2023, assessing the long-term risks and threats to their development and exploring the potential for maritime transport growth in the Baltic region under the current circumstances.... view less
Keywords
Russia; spatial planning; regional development; Baltic region; harbor; international economics; economic sanction; economic development (on national level); economic policy
Classification
Political Economy
Document language
English
Publication Year
2023
Page/Pages
p. 62-78
Journal
Baltic Region, 15 (2023) 3
ISSN
2310-0524
Status
Published Version; peer reviewed