EU discloses the consequences of imposing sanctions on Russian trade.- Analysis

Imports from Russia into the European Union have dropped significantly since the EU imposed sanctions on Moscow in response to the Ukraine conflict, according to data from Eurostat. Seasonally adjusted values show that Russia’s share in EU imports from outside the bloc fell from 9.5% in February 2022 to 2% in September 2023. The share of exports from the EU to Russia also declined during this period, from 3.8% to 1.4%. The trade deficit with Russia reached its peak in March 2022 at €18.6 billion, primarily due to high energy prices, but has since been reduced. The EU has imposed 11 rounds of sanctions on Russia to weaken its economy, while Russia has redirected its trade to Asia.

Source: RT news: EU reveals impact of sanctions on Russia trade