Sanctions impact Africa's trade with Russia, mainly conducted in U.S. dollars and euros.

Approximately 95% of all trade is invoiced in the sanctioned currencies (U.S. dollar and euro), and much of Africa's $14 billion trade with Russia is likely denominated in these currencies. The sanctions hinder U.S. and eurozone banks, their foreign affiliates, and Russian banks based in these regions from facilitating transactions in these currencies for Russian entities.