Russia's Trade Nears Prewar Levels As It Defies G7 Sanctions

Trade at Russia's three largest ports has been surging and is approaching prewar levels despite sweeping sanctions by the Group of Seven (G7) leading economies, according to a new report. "Activity in Russia's ports is surprisingly high. For the first time since the outbreak of the Ukraine war, the volume of goods unloaded at Russia's three largest container ports, St. Petersburg, Vladivostok, and Novorossiisk, is approaching the levels seen at the outbreak of the war," the Kiel Institute for the World Economy in Germany wrote in a report published…