Russia’s energy exports are increasingly getting sanctioned by the Western nations and different countries, which are likely to cut or alter the bilateral trade with Russia. This is in the aftermath of Russia’s invasion of Ukraine, which started a few weeks ago.
The three western nations—the USA, UK, and EU are closely working together to drain and put a strain on the war chest of Russia by putting sanctions and bans on certain commodities. Recently, a number of lifestyle-related final product exports to Russia are also banned.
Russia Imports, 2021
Russia waged a war with Ukraine but invited criticism from countries that are waging a silent but financial war with Russia by halting the trade with sanctions, bans, and a SWIFT system block on Russian banks.
Read More: Russian Banks Block From SWIFT, Driving Investors To Be Anxious
While Russia is known for the high exports of its oil and natural gas to other countries, a few are talking about the imports Russia does from other countries, and those few obviously includes the nations who are banning the exports to Russia.
The shown Russia import data features the top imports made by Russia in the year 2021 so far, as per available data. The highlighted commodities are based on the top list of goods based on the HS code classification of Chapters (two-digit).
The represented Russia import data 2021 below highlights the top imports of Russia made for the ending year of 2021. The shown top imported commodities are highlighted below and are made on the basis of HS code classification of Headings (four-digit) as per availability of data.
Read More: Russia-Ukraine Crisis – Global Supply Chain Impact Likely
Banned Exports to Russia
The EU bans champagne, high-end cars, fashion apparel, expensive electronics and sports gear. The mentioned commodities are shown below in the Russia import data of other countries as well and do not feature the values on the basis of only EU exports, as per available data. Represented import data does not include one single basis of HS code classification.
Read More: How Ukraine Clean Energy Market Is Valuable To Russia and the EU?
The United States of America has banned seafood, spirits/vodka, and non-industrial diamonds for exports to Russia and might include other commodities in the near future. The shown below data highlights the trade of Russia for these banned products globally and not the US only for 2021, as per the availability of Russia trade data with other countries. Represented import data of Russia does not include one single basis of HS code classification.
Read More: US LNG Exports To The EU Will Soar Amid Russia-Ukraine War
The United Kingdom bans luxury vehicles, high-end fashion, works of art to export to Russia. The highlighted figures shown in the data below are retrieved from Russia’s global imports, as per available data. Hence, it does not represent the trade with the UK only, but globally. Represented data does not include one single basis of HS code classification.
The UK not only banned the exports of the aforementioned products but raised 35% tariffs on vodka, metal, fertilisers, while other commodities with increased tariff by the UK include these products: iron, steel, fertilisers, wood, tyres, railway containers, cement, copper, aluminium, silver, lead, iron ore, residue/food waste products, beverages, spirits, & vinegar, glass & glassware, cereals, oilseeds, paper and paperboard, machinery, works of art, antiques, fur skins & artificial fur, ships, and whitefish.
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