Trade between Russia and the EU has fallen to a minimum since the beginning of 2000

In April, the trade turnover between Russia and the European Union amounted to €5.6 billion, a decrease of 6% compared to the previous month. This was the lowest level since January 2000.

Exports of Russian goods to the EU decreased by 17% compared to the previous month, reaching €2.7 billion, the lowest level since June 1999. The main goods that Russia sold to Europe included gas (supplies of which decreased by 5% to €1.15 billion), iron and steel (worth €288.5 million), as well as petroleum products (by €248 million).

At the same time, imports of European goods to Russia increased by 6%, reaching €2.9 billion. The main European exports were pharmaceutical products, the supply of which increased by 16% to €760 million. Russia also purchased equipment worth €303 million and optical instruments worth €186.5 million.

In the first quarter of 2024, three EU countries, Cyprus, Portugal and Ireland, increased exports to Russia in annual terms. The largest trading partner of Russia among European countries is Germany, which supplies Russia pharmaceuticals, nuclear reactors and optical equipment.