EU shipments to Russia surge 18 percent in June| MENAFN.COM

Sunday, 25 September 2022 06:01 GMT

EU shipments to Russia surge 18 percent in June


(MENAFN) EU shipments to Russia rose by 18 percent two months ago from May, amounting to €4.45 billion (USD4.57 billion), foreign trade data from the statistics agency Eurostat indicates.

This was the second month in a row that shipments to Russia surged, after the April decline of just €2.78 billion (nearly USD2.81 billion).

Nonetheless, the worth of commodities exported to Russia stays well under the June last year number of €7.21 billion (USD7.3billion), as nearly 28 percent of EU shipments to Russia stayed below Ukraine-related restrictions.

In reply to Russia’s forces operation in Ukraine, Brussels banned the shipment to Russia from the EU of airplanes, bearings, dual-use technology, luxury goods, and additional products, but these sanctions shipped an instant hit to the bloc's shipments to Russia, one of its biggest exchange partners in latest years.

However, industrial equipment kept its spot as the biggest EU export to the nation, with June having witnessed exports valued at €1.12 billion (USD1.15 billion), surging 21 percent from the month before.

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