Sanctions imposed against Russia following the full-scale invasion of Ukraine have significantly impacted trade between the Russian Federation and European Union countries. The export and import of goods have decreased several times compared to the pre-war period, as illustrated in the infographics by “Word and Deed.“
In 2020, the volume of goods imported from Russia to the European Union amounted to nearly 95 billion euros. The pandemic, declared in March, had a noticeable effect on these figures, with imports decreasing for three consecutive months: March – 9.5 billion euros (-11.7%), April – 5.9 billion euros (-37.9%), May – 5.4 billion euros (-8.4%).
The object of exporting goods to Russia also decreased due to the pandemic, but not as sharply, reaching 79.1 billion euros for the year. The largest decline in export volume occurred in March, dropping to 5.3 billion euros (-27.2%).
In 2021, imports from Russia to the European Union returned to pre-pandemic levels and even exceeded them, reaching 163.7 billion euros. The highest volume of goods was imported in December, totaling 18.3 billion euros.
The EU’s exports to Russia in 2021 amounted to 89 billion euros.
In the first year of the full-scale war, EU countries imported goods from Russia worth over 202 million euros. In January-February, the import volume was 20.5 billion and 20.6 billion euros, respectively. It was only after March that the volume began to decrease.
As a result, in April, the EU imported Russian goods worth 20.5 billion euros (-13%), May – 18.2 billion (-11.1%), June – 18.1 billion (-0.5%), July – 17 billion (-6.1%), August – 15.1 billion (-11.2%), September – 13.9 billion (-7.7%), October – 13.1 billion (-5.7%), November – 11.9 billion (-9.2%), December – 10.3 billion (-14%).
Export of goods to Russia during the full-scale war dropped to 55.1 billion euros: January – 7.1 billion (-7.6%), February – 7.3 billion (+2.1%), March – 3.9 billion (-46.9%), April – 2.9 billion (-24.7%), May – 3.9 billion (+33.9%), June – 4.6 billion (+17.3%), July – 4.1 billion (-9.7%), August – 3.9 billion (-4.6%), September – 4.2 billion (+5.7%), October – 4.2 billion (+0.3%), November – 5.1 billion (+21.6%), December – 3.9 billion (-22.4%).
In January-November (December data is not available yet) of the previous year, European Union countries imported goods from Russia by almost 47 billion euros. Import volumes decreased for almost the entire year: January – 8.9 billion euros (-13.1%), February – 5.2 billion (-41.8%), March – 4.1 billion (-20%), April – 4.2 billion (+0.4%), May – 3.6 billion (-13.5%), June – 3.3 billion (-7.4%), July – 3.3 billion, August – 3.4 billion (+2.4%), September – 3.9 billion (+12.8%), October – 3.5 billion (-10.4%), November – 3.5 billion (+1.8%).
Goods worth 35.7 billion euros were sold to Russia: January – 3.6 billion (-9.6%), February – 3.6 billion (+1.1%), March – 4.3 billion (+20.1%), April – 3 billion (-31.5%), May – 3.61 billion (+3.3%), June – 3 billion (-0.4%), July – 3 billion (-2.4%), August – 2.9 billion (-1.3%), September – 2.9 billion (-0.6%), October – 3.1 billion (+5%), November – 3.2 billion (+4.9%).
Despite the decline in trade volumes and the impact of sanctions, Russia continues to receive a significant amount of money from the European Union (EU). Even during the war in Ukraine and amid geopolitical tensions, economic ties persist, and Russia remains a trading partner for the EU. The resilience of economic transactions underscores the complexities of disentangling economic interdependencies, even in the face of sanctions.
