In June, Russian-EU trade turnover amounted to €4.9B, falling by 10%. Eurostat data shows this is the lowest figure since September 1999, when turnover was equal to €4.6B. In June, the supply of Russian goods to the EU decreased by 14% compared to May and amounted to €2.5B, the lowest figure since February 1999. The basis of Russian exports to the EU was gas (€1.1B), oil and petroleum products (€333M), as well as iron and steel (€164M). At the same time, the supply of European products to Russia in June decreased by 5% in monthly terms to €2.4B. The key categories of goods were: pharmaceutical products (€634M), equipment (€262M), and optical instruments (€203M). The strongest drop in trade in June occurred with Portugal by over four-fold, and the Czech Republic and Ireland both declined by about 50%. On the other hand, turnover with some countries increased in June – by 15% with Bulgaria and Romania.
The first time in 25 years, the trade turnover between Russia and the EU has fallen below €5B.
