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The war in Ukraine and sanctions reduced EU exports to Russia to $59bn last year, their lowest level for 18 years. Russia’s total share of European trade dropped below 2%.
At the same time, however, EU countries have ramped up exports to countries with close ties to Russia. In 2022, the EU’s trade in goods to Kazakhstan, Georgia, Armenia, Uzbekistan, Azerbaijan, Kyrgyzstan, Tajikistan and Turkey was up 24% y/y to $130bn. In the first half of this year alone, it was worth $75.8bn.
57 RUSSIA Country Report November 2023 www.intellinews.com