Because of Russia’s ongoing aggression against Ukraine, exports of palm oil to Russia will be impacted, as the latter has been disconnected from the international Society for Worldwide Interbank Financial Telecommunication (SWIFT) banking system.

As a result, Russia’s currency, the ruble, tumbled by 30 percent on Feb. 28. Nevertheless, China may become Russia’s only option to trade with the world, as the West appears united to cripple Russia’s economy further. Indeed, China and Russia have their own inter-banking transfer system.

In other words, Malaysia and Indonesia, or any Southeast Asian countries, can sell anything to Russia via China as a gateway, provided they are not afraid of antagonizing the Group of 7 (G7).

By international law, it is indeed permissible because there are no United Nations Security Council resolutions to block trade with Russia via China.

Therefore, the European Union and the G7 may weigh in with their political and economic pressures to block all of Southeast Asia – especially Malaysia, Indonesia and Vietnam, which by itself sells 26 percent of its cellphones and components to Russia, according to Tani Shoro of Nikkei Asia, from trading with the country. ASEAN also buys 26 percent of its arms from Russia.

While many scholars believe that NATO’s response to the Russian invasion of Ukraine has set the stage for the second Cold War, this historical analogy is, unfortunately, wrong. The world is returning to the raw territorial grab that preceded World War II and Cold War events.