Shipments jumped 18% in June, rising for the second month in a row after a trough in April © Getty Images / aydinmutlu
EU exports to Russia surged by 18% in June from the previous month, reaching €4.45 billion ($4.57 billion), foreign trade data from the statistics agency Eurostat shows.
This was the second consecutive month that exports to Russia rose, following the April low of just €2.78 billion. However, the value of goods shipped to Russia remains well below the June 2021 figure of €7.21 billion, as some 28% of EU exports to Russia remain under Ukraine-related sanctions.
In response to Russia’s military operation in Ukraine, Brussels banned the export to Russia from the EU of airplanes, bearings, dual-use technology, luxury goods, and other products. These restrictions delivered an instant blow to the bloc’s exports to Russia, one of its largest trading partners in previous years.
Nevertheless, industrial equipment retained its position as the largest EU export to Russia, with June having seen shipments worth €1.12 billion, up 21% from May. The supply of medicines also increased, growing by 6% to €791 million over the previous month and surpassing last year’s figures by 31.5%. Medicine is now the second-largest EU export to Russia.
The bloc’s exports of perfumes and cosmetics, excluding luxury goods that exceed €300 per single item, rose in June by 38% to €108 million. Shipments of plastics and plastic products grew by 16% to €234 million, while deliveries of optical, measuring, control, medical devices and instruments and electrical equipment and components also jumped. However, exports in all of these categories remain well below last year’s levels. (RT)
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