Cracks in G20 let Russia grow trade with China and India

SAO PAULO/LONDON -- As Group of 20 finance ministers meet in Brazil, divisions within the G20 have allowed Russia to maintain a high level of economic growth since its invasion of Ukraine by trading sharply more with China, India and other members.

Russia's real gross domestic product rose 3.6% in 2023 by an official preliminary estimate. In January, the International Monetary Fund upgraded the country's 2024 real GDP growth forecast to 2.6%, compared with an average forecast of just 1% for the Group of Seven advanced economies for this year.