Unprecedented finance and trade restrictions on Russia, Iran, Venezuela, North Korea, China, and other authoritarian regimes have birthed a global shadow economy where China plays a central role in foiling U.S.-led efforts by strengthening trade ties, offering a shield against Washington's financial warfare.
China serves as a crucial hub for sanctioned nations like Russia, Iran, and Venezuela to acquire necessary goods by providing discounted oil from OPEC countries, allowing these nations to generate revenue for buying sanctioned products from China.
Chinese customs data highlights the nation's substitution of Western access for Russia regarding key dual-use goods, which have civilian and military applications, showcasing China's impactful role in facilitating trade with sanctioned countries.
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