Why Russia’s invasion of Ukraine has a limited impact on North Korea’s economy



Analysis Why Russia’s invasion of Ukraine has a limited impact on North Korea’s economy Subsidized trade and depressed demand likely insulate the DPRK economy from food and oil price shocks — but not forever Peter Ward March 29, 2022 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Farmers dry corn in North Korea's Kangwon province on Oct. 4, 2016 \| Image: NK Pro The rise in food and oil prices resulting from Russia’s invasion of Ukraine is and will be felt most acutely in food insecure and heavily reliant countries. But North Korea, despite fitting this profile, may be the exception to this global volatility. As the COVID-19 pandemic has demonstrated, crises abroad may not have the dramatic, visible impacts in the DPRK that some may assume. The disruption to grain, crude oil and other economic inputs resulting from Russia’s invasion of Ukraine means the following for North Korea: The country has largely been deprived Read More © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01How long-range strikes on Russia could impact North Korean troop deployments 02How North Korean hackers and IT workers collude to cause chaos 03What pro-Trump think tanks reveal about his likely North Korea policy priorities 04Yoon bet on US to deter North Korea. Now he faces an alliance skeptic in Trump. 05All the question marks hanging over Trump’s approach to North Korea in term two 06Time almost up for North Korea’s plan to launch 3 military satellites in 2024 07Trump return rekindles prospects of North Korea talks, but Russia stands in way 08How China could benefit from North Korea’s troop deployment to Ukraine

Analysis

Why Russia’s invasion of Ukraine has a limited impact on North Korea’s economy

Subsidized trade and depressed demand likely insulate the DPRK economy from food and oil price shocks — but not forever

Peter Ward March 29, 2022

Why Russia’s invasion of Ukraine has a limited impact on North Korea’s economy

Farmers dry corn in North Korea's Kangwon province on Oct. 4, 2016 | Image: NK Pro

The rise in food and oil prices resulting from Russia’s invasion of Ukraine is and will be felt most acutely in food insecure and heavily reliant countries.

But North Korea, despite fitting this profile, may be the exception to this global volatility. As the COVID-19 pandemic has demonstrated, crises abroad may not have the dramatic, visible impacts in the DPRK that some may assume.

The disruption to grain, crude oil and other economic inputs resulting from Russia’s invasion of Ukraine means the following for North Korea:

The country has largely been deprived

01How long-range strikes on Russia could impact North Korean troop deployments
02How North Korean hackers and IT workers collude to cause chaos
03What pro-Trump think tanks reveal about his likely North Korea policy priorities
04Yoon bet on US to deter North Korea. Now he faces an alliance skeptic in Trump.
05All the question marks hanging over Trump’s approach to North Korea in term two
06Time almost up for North Korea’s plan to launch 3 military satellites in 2024
07Trump return rekindles prospects of North Korea talks, but Russia stands in way
08How China could benefit from North Korea’s troop deployment to Ukraine

Why Russia’s invasion of Ukraine has a limited impact on North Korea’s economy

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Peter Ward