EU ranks among Russia’s top three trading partners Despite Sanctions

Russia’s exports rose by 18% in 2024, reaching $330 billion despite Western sanctions, Bild reports, citing data from the German Economic Institute (IW).

According to the study, China emerged as Russia’s largest trading partner, with total trade turnover amounting to $244.8 billion. The bulk of imports consisted of Russian energy resources — oil, gas, and coal.

India ranked as the second most important partner, significantly expanding its purchases of Russian oil. The European Union, meanwhile, remained Russia’s third-largest trading partner with a turnover of €67.5 billion, although the structure of trade has shifted considerably.

Germany slashed its imports of Russian goods by 92%, while Hungary increased them by 31%. Strong growth in trade turnover was also observed with Türkiye, Egypt, Brazil, and the Central Asian countries. Analysts further noted a notable increase in trade with Israel.

By Khagan Isayev