The Indicator from Planet Money Why hasn't the Russian economy collapsed?
86 snips
Mar 24, 2026 
Alina Rybikova, economist and Russia specialist at the Peterson Institute, explains why Russia's economy keeps running despite sanctions. She discusses how oil, gas and metals still bring in cash. She highlights policy gaps that let Russia adapt. She explains China’s vital trade role and how wartime spending and economic reshaping prop up the regime.
AI Snips
Chapters
Transcript
Episode notes
Exported Commodities Are Russia's Lifeline
- Russia's commodity exports keep its economy afloat despite sanctions.
- Alina Rybikova highlights oil, gas, metals, and fertilizers as still in global demand and major earners for Russia.
Sanctions Suffer From Weak Enforcement
- Sanctions failed to fully strangle Russia due to slow implementation and weak enforcement.
- Timothy Ash says sanctions were telegraphed, giving Russia time to adapt and other countries to facilitate evasion.
China Replaced Europe As Russia's Key Partner
- China became Russia's main economic partner and a major enabler of trade.
- Alina Rybikova notes China buys oil, gas, agricultural and chemical products and provides consumer goods and some military support.