EU Remains a Leading Trading Partner of Russia Despite Sanctions
Despite the extensive sanctions imposed on Russia due to its invasion of Ukraine, the European Union continues to be one of Moscow’s main trading partners.
According to recent data from the German Economic Institute (IW), in 2024, the total trade volume between the EU and Russia reached approximately 67.5 billion euros.
Although most EU countries have significantly reduced their imports from Russia — with Germany decreasing its imports by 92% compared to 2021, and Italy and Belgium reducing by 83% and 67%, respectively — complete disconnection of economic ties has not yet been achieved.
Germany still maintains trade with Russia worth around 9.5 billion dollars, while countries like Italy (-83%), Belgium (-67%), Spain (-63%), Czech Republic (-51%), and Slovakia (-31%) have seen sharp declines.
Hungary is an exception, having increased trade with Russia by 31%, reaching 6.2 billion dollars.
France and the Netherlands recorded trade volumes of about 6 billion dollars each.
Experts from IW estimate that in 2024, Russian exports grew by 18% year-over-year, amounting to approximately 330 billion dollars.
China remains Moscow’s largest trading partner, accounting for over 244 billion dollars in trade, mainly through energy supplies like oil, gas, and coal.
Overall, energy exports to China totaled around 130 billion dollars.
India ranks second among Russia’s trading partners, with other countries like Armenia (+423%), Israel (+240%), Uzbekistan (+135%), Brazil (+98%), Azerbaijan (+76%), Egypt (+70%), and Turkey (+53%) increasing their trade with Russia.
Earlier reports indicated that in 2025, Russia’s trade volume with China declined for the second consecutive year since the full-scale invasion began, which might signal shifts in global trade flows.