EU trade volumes with Russia are reduced

The share of Russia in the volume of trade in the European Union (EU) in the II quarter fell below 2 percent.

This is evidenced by the data of the European Statistical Office (Eurostat).

Sanctions against Moscow imposed after the start of the conflict in Ukraine had a strong impact on the EU trade with Russia.

The share of Russia in the import of the EU in June 2023 fell to 1.7 percent, while in February 2022 this indicator was at the level of 9.6 percent.

The share of the Russian Federation in the export of the EU for the specified period decreased from 3.8 percent to 1.4 percent.

The European Union has now adopted 11 sanctions packages against Russia.