“…The GTAP model enables a counterfactual simulation of the impact of the potential policy shocks on production, consumption, output, imports and exports, and national welfare. It has been applied to the consequence of the EU-UK Trade and Cooperation Agreement after Brexit (Fusacchia et al, 2022), and the economic and trade impacts of the Regional Comprehensive Economic Partnership (Ji et al, 2018;Kawasaki, 2017), as well as the potential impact of the proposed Trans-Pacific Partnership (Signoret et al, 2016). According to WTO statistics, Russia's top five export destinations in 2021 were the EU (a share of 38.2% in total export), China (14.0%), Turkey (5.4%), Belarus (4.7%) and the UK (4.5%).…”