(FiveNation.com)- Putin’s “Pivot to Asia” appears to be in jeopardy after China and India gave him the silent treatment at a recent conference.
Southeast Asian nations are leery of cooperating with Moscow for fear of Western retaliation. Russian President Vladimir Putin reiterated his commitment to separating his nation’s economy from EU nations that have placed severe sanctions on Russia in a speech at the Eastern Economic Forum in early September.
Since Russia invaded Ukraine in February, the same EU countries have been attempting to detach their energy policy from Moscow and strengthen their ties with Asia.
At the forum hosted in the Russian Pacific port city of Vladivostok, Putin stated that the Asia-Pacific region’s “role has greatly risen” and offers “colossal new chances for our people.”
Russia’s recently revised naval policy, which was released on August 31, also wants to increase its military power in the East.
Despite the government’s prediction that the economy will only fall by 3% in 2022, the international sanctions put in place earlier this year have significantly impacted Russia.
According to Philipp Ivanov, CEO of the think tank Asia Society Australia, there is both a geopolitical imperative and a genuine desire to position Russia as a supplier of energy, resources, defense technology, and, in some circumstances, nuclear technologies for the developing Asian economy.
Analysts predict that Putin’s most recent reversal will be equally unsuccessful as his pivot toward Asia in 2012, known as Moscow’s “Turn to the East” policy.
Trade between the two countries reached a high of $33.2 billion in 2013, but it fell to just $20.8 billion by 2021. Less than 2% of South Korea’s total trade is with Russia. Vietnam is worried that it may violate the US’s Countering America’s Adversaries Through Sanctions Act (CAATSA), which threatens sanctions any nation that purchases weapons from Russia.
The Philippines allegedly canceled a deal to buy 16 Russian military helicopters due to pressure from the US.
Japan’s liquefied natural gas imports from Russia increased 211% in August compared to the same month last year.
Indonesia is considering importing Russian gas to help offset rising energy costs. Analysts are skeptical that this is a long-term plan for Russia, as Asian nations are eager to end the Ukraine war.
