War Balance
Payment agents settling Russia's trade: every country since 2022
One part of how much more or less Russia kept from trade with each country than in a world without the war (taxes and profit, not the sales value). From 2022 to August 2026, 12 countries have this part; the table starts with China, Kazakhstan and the United Arab Emirates.
These numbers measure money: aid to Ukraine and the change in what Russia keeps from trade, against a world without the war. Weapons count at their money value: aid at market value when delivered, weapons and troops sent to Russia at the seller's gain where Russia paid and in full where it did not. Votes, diplomacy and intent are not in them.
Ranking · 12
Sorted by “Payment agents settling Russia's trade” in euros, by size, either way, 2022 to August 2026. + toward Ukraine, − toward Russia; more or less: how much more or less Russia kept (taxes and profit, not sales) than in a world without the war.
| # | Country | Payment agents settling Russia's trade | Russia kept from trade, vs no war | Net |
|---|---|---|---|---|
| 1 | China | −€0.18bn<0.01% of GDP · <€1 per personrange −€0.65bn to −€30m | €128bn more0.74% of GDP morevery likely · >99% | −€128bn−0.75% of GDPvery likely · >99% |
| 2 | Kazakhstan | −€0.14bn−0.06% of GDP · −€7 per personrange −€0.49bn to −€22m | €35m less0.01% of GDP lessessentially zero | +€55m+0.02% of GDPessentially zero |
| 3 | United Arab Emirates | −€0.13bn−0.03% of GDP · −€12 per personrange −€0.49bn to −€21m | €3.6bn more0.72% of GDP morelikely toward Russia · 97% | −€3.5bn−0.71% of GDPlikely toward Russia · 97% |
| 4 | Hong Kong | −€98m−0.03% of GDP · −€13 per personrange −€0.38bn to −€12m | €5.7bn more1.6% of GDP morelikely toward Russia · 97% | −€5.8bn−1.6% of GDPlikely toward Russia · 97% |
| 5 | Türkiye | −€92m<0.01% of GDP · −€1 per personrange −€0.35bn to −€13m | €32.8bn more3.1% of GDP morevery likely · 96% | −€32.7bn−3.1% of GDPvery likely · 96% |
| 6 | Kyrgyzstan | −€89m−0.63% of GDP · −€12 per personrange −€0.33bn to −€12m | €1.4bn more10.0% of GDP morevery likely · 97% | −€1.4bn−10.0% of GDPvery likely · 97% |
| 7 | Armenia | −€68m−0.32% of GDP · −€23 per personrange −€0.24bn to −€10m | €34m more0.15% of GDP morelikely toward Russia · 69% | −€37m−0.17% of GDPlikely toward Russia · 69% |
| 8 | Uzbekistan | −€40m−0.04% of GDP · −€1 per personrange −€0.16bn to −€5m | €4.1bn more4.1% of GDP morevery likely · >99% | −€4.1bn−4.1% of GDPvery likely · >99% |
| 9 | Georgia | −€16m−0.06% of GDP · −€4 per personrange −€79m to −€1m | €1.2bn more4.1% of GDP morelikely toward Russia · 86% | −€1.2bn−4.1% of GDPlikely toward Russia · 87% |
| 10 | Indonesia | −€7m<0.01% of GDP · <€1 per personrange −€39m to −€1m | €2.5bn more0.20% of GDP morevery likely · >99% | −€2.6bn−0.20% of GDPvery likely · >99% |
| 11 | Serbia | −€7m<0.01% of GDP · −€1 per personrange −€33m to −€1m | €1.1bn more1.4% of GDP morelikely toward Russia · 83% | −€1.1bn−1.4% of GDPlikely toward Russia · 84% |
| 12 | Thailand | −€7m<0.01% of GDP · <€1 per personrange −€39m to −€1m | €0.38bn less0.08% of GDP lessessentially zero | +€0.39bn+0.08% of GDPessentially zero |
Each row: the best estimate, then its range in the same unit and sign. The chances of the direction are for each country's totals, on its page.
Related
- Russia's gain on fuel and goods it sold
- Russia's gain from war-time fuel prices
- Sellers' gain on sales to Russia
- Extra price Russia paid because of sanctions
- Company taxes paid in Russia
- Company profits in Russia
- Stakes in Russian oil and gas projects
- Services bought from Russia
Ranking · Support for Ukraine by country · Trade with Russia by country · All topics · How it works
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Cite as: War Balance, figures to August 2026, https://warbalance.org/payment-agents-for-russian-trade/