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ISW: Kremlin under sanctions! India, Serbia and China bail out Vladimir Putin

The Financial Times reported on September 4 that Russia's Ministry of Industry and Trade has drawn up a plan to spend nearly $1 billion to secure critical electronic components in October

Sep 5, 2024 15:42 156

ISW: Kremlin under sanctions! India, Serbia and China bail out Vladimir Putin  - 1

According to the Institute for the Study of War (ISW), Russia relies on several countries, including India, Serbia and the People's Republic of China (PRC) in its efforts to evade Western sanctions.

The Financial Times reported on September 4 that Russia's Ministry of Industry and Trade has drawn up a plan to spend nearly $1 billion to secure critical electronic components by October 2022, which includes the possibility of building facilities in India, so it to access such components. Leaked documents reveal Russia secretly acquired sensitive dual-use electronics from India with "significant reserves" of Indian rupees accumulated by Russian banks from increasing oil sales in India. The extent to which Russia has carried out this plan remains unclear, although according to the ISW, Russia is engaged in a broader effort to avoid Western sanctions and purchase sanctioned electronic components and machinery needed for the production of Russia's defense industry through foreign actors.

Russian President Vladimir Putin met with Serbian Deputy Prime Minister Alexander Vulin on September 4 on the sidelines of the Eastern Economic Forum in Vladivostok, Primorsky Krai. Putin and Vulin discussed removing bilateral trade barriers to reverse declining levels of trade, and Vulin said Serbia would not impose sanctions on Russia and would not allow its territory to be used for "anti-Russian" actions. Vulin's comment may have been intended in part to head off some of Putin's irritation following Serbia's recent purchase of 12 Rafale fighter jets from France, possibly in an effort to diversify the country's arms suppliers away from Russia. Putin said he hopes to see Serbian President Aleksandar Vucic at the upcoming BRICS summit in Kazan in October.

He also met with DPRK Vice President Han Jong on September 4 and stressed that the Eastern Economic Forum serves as a valuable platform to improve mutual understanding and promote economic cooperation between Russia and North Korea. Kremlin spokesman Dmitry Peskov said on September 3 that Putin briefed North Korean officials on the results of his recent trip to Mongolia, during which he highlighted growing regional trade and cooperation with Pyongyang and Ulaanbaatar.

ISW has previously noted indications that foreign companies and banks, including in the DPRK, are increasingly refraining from transacting with Russian entities due to fears of secondary sanctions from the West, which could affect Russia's efforts to avoiding sanctions.

The Institute also reports that on the night of September 3-4, Russian forces hit civilian infrastructure in the city of Lviv, and in addition, in several regions - Lviv, Kryvyi Rih, Dnipropetrovsk. They used both drones and rockets in the attack.

Ukrainian authorities are investigating allegations of apparent Russian war crimes against Ukrainian soldiers.

German Chancellor Olaf Scholz has announced that by 2026, his country will provide Ukraine with 17 additional IRIS-T air defense systems.

Meanwhile, there have been a number of shakeups in the government of Ukraine. However, this did not stimulate the Ukrainian forces much, and they managed to make minor progress in the Kursk region against the background of ongoing fighting on the territory of Ukraine.

Russian forces advanced southeast of Pokrovsk and southwest of Donetsk city, where Ukrainian forces recently regained positions west of Donetsk city.

The Russian Ministry of Defense (MoD) continues to present itself as an institution that firmly honors its obligations to Russian veterans of the war in Ukraine.