European countries increase Trade with Russia, despite the War and Sanctions

World » EU | December 6, 2022, Tuesday // 10:01
Bulgaria: European countries increase Trade with Russia, despite the War and Sanctions @Freepik

In August, Portugal increased its exports of Russian goods almost tenfold, while France increased its exports by a quarter, and Germany again topped the list of the largest importers, according to an analysis by RIA Novosti of data from the national statistical offices in The European Union.

Russian imports into France were worth 1.8 billion euros in February, but have since declined for five months. But in August, this amount increased by 25% on a monthly basis to 1.1 billion euros.

Other European countries have also increased their supplies, with Portugal the strongest - 9.4 times to 79 million euros. Purchases of Russian goods from Latvia (44%), Austria (27%), Spain (27%), Greece (15%) and Slovakia (6%) are also increasing.

However, there are also those that have reduced the volume of Russian imports - Slovenia (minus 60%) and Ireland (minus 63%).

Germany regained the title of the largest importer of Russian goods in August, after being overtaken by Italy in July - supplies here rose to 2.7 billion euros compared to 2 billion euros in Italy. In third place is the Netherlands with imports worth 1.5 billion euros.

Five countries also increased their exports to Russia in August. The biggest increase was registered in Cyprus - 6.7 times. Hungary adds 23%, Belgium - 19% and Germany - 13%. Since February, shipments to Lithuania have increased by 2% to a maximum of 292 million euros. Sweden (minus 40%), Ireland and Spain (both minus 39%) were the most affected.

The main suppliers of goods to Russia remain Germany and Italy: German exports in August reached EUR 1.15 billion, and Italian exports reached EUR 462 million. The top three is completed by Poland with deliveries worth 342 million euros.

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