Russia’s economy will be frozen for a long time as it relies more on China and ‘yuanization,’ think tank says

Russian President Vladimir Putin gives a speech during the Victory Day military parade at Red Square in central Moscow on May 9, 2023. GAVRIIL GRIGOROV/SPUTNIK/AFP via Getty Images Western sanctions will keep Russia’s economy frozen, according a Carnegie Russia Eurasia Center scholar. Russia is now over-reliant on commodities and China, and can’t secure advanced technologies. “The much-vaunted de-dollarization of the Russian economy is simply turning into its yuanization.” Western sanctions isolating Russia will impede the country from progressing economically for a long time, wrote Alexandra Prokopenko, a nonresident scholar at the Carnegie Russia Eurasia Center. Where once Moscow focused on…