Annual exports of goods to Russia from 6 EU members increased in July

By Al Mayadeen English
Source: Agencies
25 Oct 2022 11:49

Despite EU sanctions imposed on Russia, the flow of goods from European member states to Russia's market is still ongoing - and going stronger than ever.

Six EU countries boost exports of goods to Russia in July: Statistics

Data analyzed by Sputnik on Tuesday revealed that six EU countries increased exports of goods to Russia year-on-year in the month of July, with Slovenia and Croatia topping the list.

Croatia's exports to Russia amounted to 18.4 million euros in July, whereas Slovenia's exports were estimated at 98 million euros, respectively 59% and 56% higher than last year's figures.

The year-on-year growth in exports of goods from Estonia was also recorded at 16%, Bulgaria at 10%, Austria at 5%, and Latvia at 1%.

The data also reveals that other EU countries have considerably decreased their export volumes to Russia, including Cyprus at -99%, Luxembourg at -82%, France at -76%, Sweden at -75%, and the Czech Republic at -70%.

Countries that boosted their imports of Russian goods in the same period are 16 member states, with some increasing supplies several times, including Slovenia which increased its imports of Russian goods six-fold, Cyprus at 3.4 times, the Czech Republic at 3.1 times, Greece three-fold, and Italy 2.2 times.

Other countries whose imports from Russia increased include Austria at a 12% increase, Belgium at 89%, Bulgaria at 95%, Hungary at 77%, Germany at 10%, Spain at 68%, Luxembourg at 16%, the Netherlands at 15%, Romania at 9%, Slovakia at 21%, and Croatia at 2%.

Countries that increased exports to Russia month-on-month include Romania at 78%, Lithuania at 28%, and the Netherlands at 21%, among others.

Earlier this month, EU chief Josep Borrell said the EU used to rely on cheap Russian gas and Chinese markets, which provided the basis for the EU to unfold commercially, financially, and technologically. Now that the situation has changed, the EU needs to search for other sources inside Europe and restructure its economy accordingly.

But some are considering a U-turn on their decisions.

On October 21, Germany's Chancellor Olaf Scholz announced that he will lead a government delegation to China next month, the first EU leader to make the trip since November 2019. In previous statements, the Chancellor said the visit is intended to reduce reliance on Chinese raw materials, batteries, and semiconductors, but the talks possibly include investments in the Hamburg port.

Yesterday, Reuters reported that China's export to Russia increased by 20% in September, while exports to major EU markets plunged, particularly in France, the UK, and Germany.

The conflict in Ukraine has sparked a massive energy crisis in Ukraine, which is only getting further exacerbated with the EU imposing further sanctions on Russia.

The EU is now traversing a phase of crisis as it struggles with the rise in the cost of living and fuel scarcity in the markets.

Despite the many cries of EU citizens to lift the sanctions on Russia, the leaders are still committed to continuing to support Ukraine, with the most recent announcement by EU chief Ursula von der Leyen that beginning next year, the EU is planning to provide Ukraine with 1.5 billion euros ($1.46 billion) in monthly economic aid.