Page 97 - RusRPTJun24

US crackdown on banks aiding Russia’s war effort led to lenders dropping Russian counterparties, making it harder to move money in and out of Russia. Moscow's trade volumes with key partners like Turkey and China declined in Q1 2024. Notably, Turkey's exports of "high-priority" goods to Russia fell by a third to $2.1B y/y in Q1 2024. The value of high-priority exports to Russia & neighboring countries also dropped by 40% to $93M in Q1 2024 compared to Q4 2023, showing the impact of the US executive order.
Russian Railways increased transportation through railway border crossings with China in January -April 2024 by 22% y/y to 13.3mn tonnes of cargo, the company said in its official Telegram channel. At the same time, Russian Railways sent a total of 12.4mn tonnes of cargo for export through railway border crossings with China, which is 24.3% more in annual terms. The majority of shipments through all railway border crossings were for coal. The volume of imports in January-April exceeded 910,000 tonnes, an increase of 6.7% compared to the same period in 2023.
97 RUSSIA Country Report June 2024 www.intellinews.com