Expert in geoeconomics and international trade Oleh Sarkits said this on Espreso TV.“Before the full-scale invasion, when Russia relied heavily on the EU market and had $35 billion in trade with the U.S. — now down to $3.5 billion — it could stay afloat and finance stabilization funds. Now, with those funds running dry, Russia is diversifying its exports to patch the holes created by sanctions. A key example is the Power of Siberia 2 gas pipeline to China, which could replace the lost EU market. With it, Russia could export about 100 billion cubic meters annually,” he explained.In monetary terms, Sarkits noted, Russia can stabilize its economy by finding new markets and building ties with countries like China and India — though this will take time.“If China continues to support Russia, then sanctions from our partners will not be as effective. Sanctions do hit Russia’s economy, but cooperation with China and other partners allows Moscow to fill and stabilize its budget. Sanctions are effective, but not as fast as we and our partners would like,” Sarkits concluded.On September 16, media reported that the European Union postponed the announcement of its 19th package of sanctions against Russia, expected on Wednesday, September 17. The delay was due to U.S. and EU pressure on Slovakia and Hungary to reduce their dependence on Russian oil.