Recently, Europe and the United States warned that new sanctions should be imposed on Russia.

In response, Russia has adopted anti-sanctions measures. On August 22, an article in the "Russian Business Consulting Daily" stated that the Russian Consumer Rights Protection and Public Welfare Supervision Bureau began to inspect McDonald's restaurants in various places. Within a few days, four McDonald's restaurants in Moscow had closed.

Ma Jiguang, executive director of the China Institute of International Economic Cooperation, said in an interview with the China Trade News: "Russia's anti-sanctions may affect companies in other Western countries, and many multinational companies will be implicated. At the same time, many EU member states The economy will also be severely hit. "

EU agriculture hit hard

Jo Josep Presseguer is the CEO of Fruits de Ponent in Spain. He has been very busy and upset recently.

Earlier this month, 350 tons of peaches and nectarines he sent to Russia were returned. "Storage is a big problem. We have to sell a lot of fruit at a very low price before the peaches rot." Presser said anxiously.In response to European and American sanctions, Russia banned imports of most food and agricultural products from the European Union, the United States, and other Western countries that sanctioned Russia in early August. The ban lasted for one year. Spain is a major exporter of agricultural and sideline products, and this ban worsens the difficult situation of Spanish farmers. "This is a disaster," Preserger said, saying 25% of his products are sold in Russia.

According to statistics, Russia's anti-sanctions brought at least 5.2 billion euros to EU agriculture.

In response, the European Union has decided to spend 125 million euros to subsidize EU fruit and vegetable producers who have suffered losses due to sanctions. The subsidy policy will continue until the end of November this year. It is reported that Poland, Lithuania, Belgium and the Netherlands are the main countries exporting fruits and vegetables to Russia, and these countries will give priority to EU subsidies.

Financing costs of Russian companies soar

"Sanctions are a double-edged sword. Russia's ban on the import of agricultural products from the European Union has caused hundreds of millions of euros in economic losses to EU agriculture. But Russia is also under pressure from supply shortages and rising prices."

At the same time, the European Union bans the export of key equipment, parts and technologies to Russia, causing Russian enterprises to fail to produce normally.

Among many sanctions, the ban on the export of oil extraction technology and equipment has the greatest impact on Russia.

Vitol S.A, the world's largest independent oil trader, had planned to raise US $ 2 billion for Rosneft, Russia's largest oil producer, but the deal has stalled.

A new round of Western sanctions focused on combating Russian defense, finance, and energy. Financing by Russian companies was restricted and they became the first victims.

With the escalation of European and American sanctions, investors have withdrawn from Russia, which has greatly increased the financing costs of Russian companies.

According to EU media estimates, EU sanctions on the Russian entity will cost Russia's economy 23 billion euros this year and 75 billion euros next year, accounting for 1.5% and 4.8% of its GDP, respectively.

Chinese enterprises have huge business opportunities

Mutual sanctions between Europe, the United States, and Russia hurt both sides. What's more serious is that the sanctions war not only did not end, but continued to increase.

The supply gap caused by Russia ’s ban on the import of agricultural products has created business opportunities for neighboring countries in Asia.

Ma Jiguang said: "China is Russia's largest trading partner and close neighbor. Agricultural trade is an important part of China-Russia trade. China is planning to sell fruits and vegetables directly to Russia."

In Shouguang, the hometown of Chinese vegetables, many companies are watching this sanctions war. The reporter called Shandong Shouguang Tiancheng Manulife Food Co., Ltd.'s fruit and vegetable marketing department. The person in charge said: "Tiancheng has always been in business with Russia and mainly exports quick-frozen fruit products such as yellow peach, strawberry, kiwi to Russia, and exports more than 1,000 tons per year. Russia's Anti-sanctions measures have caused a vacancy in the Russian fruit and vegetable market, which is definitely a good thing for Chinese companies. However, because the anti-sanctions measures have just begun to be implemented, the impact on the company is not obvious. Recently, Russian customers came to visit the factory and asked to see Vegetable and fruit samples. But even if exports are to be increased, both parties need to negotiate many times, and a process is needed. "

In this wrestling of the three major economies of Europe, the United States, and Russia, the business opportunities that will be revitalized are not limited to the field of agricultural products such as vegetables and fruits. Marcel Fratzer, director of the World Economic Research Institute in Berlin, Germany, believes that in order to get rid of financial difficulties, Russia will definitely find a way to the capital markets of China and other emerging market countries.

In fact, some large Russian companies are also trying to divert more capital to Asia. Megafun Telecom, Russia's second-largest mobile communications operator, has converted 40% of its cash reserves into Hong Kong dollars and deposited them in several Chinese banks, with the remaining 60% held in rubles.

Ma Jiguang believes that under the shadow of European and American sanctions, Asia has become Russia's primary direction for seeking international financing. Russian companies may increasingly rely on Chinese loans in the future, and Chinese companies are embracing huge business opportunities.