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After the Russia-Ukraine conflict, the international community imposed sanctions on Russia, which complicated the trade between Russia and Vietnam
.
Some banks in Russia have been banned from using the SWIFT payment system, hindering the completion of financial transactions such as payment for goods
.
Some Russian importers have opened bank accounts in third countries, but these accounts are more time-consuming and risk being frozen
.
.
Some banks in Russia have been banned from using the SWIFT payment system, hindering the completion of financial transactions such as payment for goods
.
Some Russian importers have opened bank accounts in third countries, but these accounts are more time-consuming and risk being frozen
.
Vietnam's major catfish exporters to Russia said the sharp depreciation of the Russian ruble has made many Russian importers unwilling or unable to pay the full price for their goods
.
.
Complicating trade between Vietnam and Russia, international shipping companies have announced that they will no longer provide services to Russia
.
After Vietnam suspended catfish exports to Russia, Vietnamese processors are scrambling to find enough processing material to meet high demand in other markets
.
.
After Vietnam suspended catfish exports to Russia, Vietnamese processors are scrambling to find enough processing material to meet high demand in other markets
.
In 2021, the export value of Vietnamese catfish to Russia was 32.
5 million US dollars, a year-on-year increase of 72.
5%, making it the third largest export region after Argentina and China.
However, in January this year, Vietnamese catfish exports to Russia fell by 29.
8% to 2.
2 million US dollars
.
5 million US dollars, a year-on-year increase of 72.
5%, making it the third largest export region after Argentina and China.
However, in January this year, Vietnamese catfish exports to Russia fell by 29.
8% to 2.
2 million US dollars
.
Vietnam has also stopped exporting tuna products to Russia and Ukraine, and some shipments have been returned due to payment difficulties.
It is expected that Vietnamese tuna exports may decline in the next few months, and exporters will have to find new buyers and receive no longer shipped to surplus products in both countries
.
It is expected that Vietnamese tuna exports may decline in the next few months, and exporters will have to find new buyers and receive no longer shipped to surplus products in both countries
.
In 2021, the export value of Vietnamese tuna to Russia was 14.
3 million US dollars, a year-on-year increase of 58%.
In January this year, the export value increased by 427%; in 2021, the export value of Vietnamese tuna to Ukraine was 6.
8 million US dollars, a year-on-year increase of 106%
.
3 million US dollars, a year-on-year increase of 58%.
In January this year, the export value increased by 427%; in 2021, the export value of Vietnamese tuna to Ukraine was 6.
8 million US dollars, a year-on-year increase of 106%
.
Another major challenge facing Vietnam due to the Russian-Ukrainian conflict is the imminent shortage of sunflower oil used for canned tuna.
As the situation continues to heat up, the price of sunflower oil will rise further and there may be a shortage, thereby increasing the processing of canned tuna in Vietnam.
cost
.
As the situation continues to heat up, the price of sunflower oil will rise further and there may be a shortage, thereby increasing the processing of canned tuna in Vietnam.
cost
.
