Russian-Croatian trade relations in current environment of sanctions

Abstract

Aim. To assess the impact of Western European sanctions on Russian-Croatian trade relations in 2020-2023 and Croatian tourism sector.Objectives. To analyze the dynamics of key indicators of trade between the Russian Federation (RF) and Croatia under sanctions; to identify the main commodity groups in the structure of their trade; to determine the importance of Russia for the tourism sector of the Republic of Croatia.Methods. The author used such research methods as statistical analysis, generalization, description and graphical modeling.Results. The results obtained in the process of the analysis indicate a sharp decline in the volume of mutual trade of the Russian Federation with Croatia in the conditions of numerous trade restrictions from the European Union. In 2023, the commodity structure of Russian exports to the Republic of Croatia has changed significantly, the basis of Russian exports is now made up of finished goods and goods of the chemical industry. The flow of tourists from Russia occupies an insignificant share in the total tourist flow of Croatia and has little impact on the tourism sector of the Republic. Under the conditions of the sanctions regime, Croatian companies have begun to cease economic activities in the territory of the Russian Federation.Conclusions. The current situation on the world stage has determined the dynamism of mutual trade interaction between Russia and Croatia. Thus, the sanctions imposed by the countries of the collective West have a negative impact on Russian-Croatian relations both in trade and tourism. The tendencies of reduction of mutual trade and tourist flows have a long-term character and negative dynamics of interaction between the two countries. Normalization of trade relations between Russia and Croatia in the geopolitical situation today seems unlikely.