Supporters of Russia sanctions are some of its biggest buyers – NYT — RT Business News

Several countries that oppose Moscow’s military operation in Ukraine have boosted Russian imports since February, data cited by the New York Times indicates

A number of countries have dramatically increased their average monthly volumes of imports from Russia since the beginning of Moscow’s military operation in Ukraine versus the previous five years, according to trade data compiled by the Observatory of Economic Complexity, as cited by the New York Times.

The report notes that the results are rather retrospective, as the online data platform has published the figures with a lag.

India and Türkiye emerged as major importers of Russian goods and produce, demonstrating an enormous surge of 430% and 213% respectively. Meanwhile, Brazil, whose imports from Russia soared by 166%, was ranked third on the list. Russia’s exports to China saw an increase of 98%, while imports of Russian goods by Saudi Arabia grew by 45%.

Some of the nations that have been actively boosting purchases of goods and produce from Russia have taken an active role in opposing the country’s military operation in Ukraine, including EU member states and those supporting anti-Russian sanctions.

Thus, imports of Russian goods by Spain saw a surge of 112%, while Russian exports to Belgium soared 130%. The Netherlands increased imports from Russia by 74%. Japan’s purchases of Russian goods and produce grew by 40%, while Germany and Norway ramped up imports from the sanction-hit nation by 38% and 21%, respectively. 

Moreover, Russia’s total trade turnover with The Netherlands grew by 33%, as well as 13% with Japan, while overall trade with Belgium jumped by 84%.

At the same time, most of these nations have reduced exports to Russia, giving Moscow a healthy trade surplus. India, the top importer in the ranking, reduced exports by 19%, while exports from Brazil and Spain dropped 13% and 44%, respectively. 

The US and Britain saw the biggest decline in exports to Russia of 84% and 71%, respectively. Sweden reduced exports to Russia by 61%.

Meanwhile, China and Türkiye, on the other hand, increased the export of goods to Russia. Beijing ramped up the volume of exports to Russia by 24%, while exports from Türkiye soared by 113%.

For more stories on economy & finance visit RT’s business section

You can share this story on social media:

Leave a Reply

Your email address will not be published.

%d bloggers like this: