Russia's exports to EU increased by 68 percent after the invasion of Ukraine
Exports from Russia to the EU during the first three months of the Ukrainian invasion soared by 68 percent due to rising energy prices, although the EU's exports to Russia decreased by 48 percent in the same period, Euronews reported.
According to the latest report published by the European Statistical Office (Eurostat), goods worthy of 15.32 billion euros were exported from the EU to Russia between March and June. This figure was close to 30.5 billion euros in the same period last year.
However, exports from Russia to the EU reached almost 80 billion euros in the same period. Between March and June of 2021, this figure was 47.45 billion euros.
Another report published by Eurostat in March showed that 62 percent of the EU's imports from Russia constituted energy products. The report pointed out that the price of the natural gas imported by the EU from Russia rose 5.6 times from March 2021 to June 2022.
If the EU countries did not reduce their gas consumption and the agreements with other global gas suppliers were not put into play, imports from Russia would increase so much that the figures would surpass the United States, Euronews said.
The EU decreased the amount of natural gas imported from Russia by about 70 percent in July to less than 100 million cubic meters per day.
Russia is one of the most important trading partners of the EU. Last year, Russia exported 158.7 billion euros of various goods to the EU and imported 89.3 billion euros of goods from the EU.