Trade turnover between Russia and the United States fell 11 times

In July 2023, trade turnover between Russia and the United States updated the anti-record, reaching $277 million. This is 11 times less than in February 2022 (before the introduction of anti-Russian sanctions). This is evidenced by data from the US Census Bureau, analyzed RBC.

In addition, the volume of mutual trade at the end of July decreased by 13 times relative to the same period in 2021. The indicator became the minimum since at least the early 2000s, RBC claims. Moreover, back in 2021, the United States was one of Russia’s five largest trading partners.

It is noted that almost 90% of trade turnover is made up of Russian supplies. American exports fell to $36 million in July. Russia mainly supplies the United States with nuclear fuel, mineral fertilizers and platinum group metals (palladium, platinum, rhodium). From January to July 2023, Russian exports to the United States amounted to about $3 billion, of which $2.5 billion was accounted for by these three groups of goods.

After the start of Russia’s special operation in Ukraine, the United States introduced large-scale sanctions against the Russian Federation, which affected many sectors of the economy, including energy, the high-tech sector, aviation, banking, mining, automotive, etc.

In particular, in the spring of 2022, the United States banned the import of Russian oil, petroleum products, diamonds and seafood. Then was raised import duty of up to 35% on imports from Russia of steel, some types of aluminum products, rubber, wood, etc. At the same time, nuclear fuel, mineral fertilizers and platinum group metals were not subject to sanctions.