Economy01.07.2024 - 11:45

Russia earned 5 trillion rubles on sanctions

Over the past two years, as a result of sanctions, importers from countries that do not maintain friendly relations with Russia have not received Russian goods worth $256.5 billion (about 21 trillion rubles). However, Moscow was able to reorient exports to other states, which not only compensated for the losses, but also brought an additional benefit of five trillion rubles. RIA Novosti writes about this, citing its own calculations.

Фото: Oleg Zoloto/Vecherniy St. Petersburg

Trade statistics show that Russian exports to unfriendly countries were heterogeneous: some commodity items showed a decline, while others demonstrated growth. In 2022, Western importers did not receive goods worth $64.1 billion (4.5 trillion rubles), and in 2023 - $192.4 billion (16.5 trillion rubles), totaling $256.5 billion, or almost 21 trillion rubles in two years.

According to the Federal Customs Service (FCS), Russian exports ended up in the plus side, earning an additional $30.9 billion (five trillion rubles) in two years compared to the period before the sanctions. This means that thanks to trade with friendly countries, Moscow not only compensated for the lost income, but also earned an additional 287.5 billion dollars, or 26 trillion rubles.

In terms of commodity groups, the bulk of the West's shortfall (55%) is accounted for by minerals - 107 billion dollars. Jewels and metals also suffered noticeably, with losses of $38 billion and $20.7 billion, respectively.

Importers of wood and wood products lost $9.2 billion, plastics and rubber lost $5.4 billion, equipment, tools and transportation lost five billion, and chemicals lost $4.5 billion. Food shipments fell by 1.3 billion, animal products and building materials by 1.2 billion for each group, and manufactured goods by 0.9 billion.

Plant products were the least affected with a decrease of $638.5 million, fats and oils with a decrease of $464.5 million, fabrics and apparel with a decrease of $325 million, and art supplies with a decrease of $44 million.

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