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US, EU Continue to Trade with Russia Despite Ongoing War with Ukraine

Strategic Insights

— 2 min read

The US and EU have imposed sanctions on Russia for its continued involvement in the war with Ukraine, but they continue to trade with the country. While the US has imposed a 25% additional tariff on India for its crude oil trade with Russia, it continues to import goods worth $3 billion from Russia last year. The EU imported goods valued at $41.9 billion from Russia in 2024.

Despite a 90% reduction in US-Russia trade following Russia's war with Ukraine, the United States continued to import goods worth $3 billion from Russia last year. The European Union, whilst supporting American sanctions against Russia, imported goods valued at $41.9 billion (36 billion euros) from Russia in 2024.

Key Takeaways:

  • The US and EU continue to trade with Russia despite ongoing sanctions.
  • The US imported goods worth $3 billion from Russia last year, while the EU imported goods valued at $41.9 billion from Russia in 2024.
  • The US depends significantly on Russia for three chemical fertiliser varieties: urea, urea ammonium nitrate (UAN), and potassium chloride muriate of potash (potash).
  • Russian export to the US includes fertilisers, palladium, uranium, and plutonium.
  • The EU imported $1.72 billion worth of Russian fossil fuels in the first quarter of 2025.
  • Natural gas imports from Russia showed an increase in value over four years due to price rises, reaching $5.23 billion in 2025's first quarter.
  • Russian iron and steel imports to the EU decreased considerably to $850 million in the first quarter of 2025.
  • India's trade with Russia has seen a dramatic surge, with imports reaching $67 billion in 2024.

Statistics:

  • The US imported goods worth $3 billion from Russia last year (CNN, US Census Bureau statistics).
  • The EU imported goods valued at $41.9 billion from Russia in 2024 (Eurostat, European Union statistical agency).
  • The US imported $927 million worth of Russian fertilizers in January-June 2024 (CNN, US Census Bureau statistics).
  • Russian palladium imports to the US reached $878 million in 2024 (CNN, US Census Bureau statistics).
  • Uranium and plutonium imports from Russia to the US totalled $755 million in the first half of 2024 (CNN, US Census Bureau statistics).
  • The EU's trade with Russia has reduced, but it still imported $1.72 billion worth of Russian fossil fuels in the first quarter of 2025 (Eurostat, European Union statistical agency).
  • Natural gas imports from Russia showed an increase in value over four years, reaching $5.23 billion in 2025's first quarter (Eurostat, European Union statistical agency).
  • Russian iron and steel imports to the EU decreased to $850 million in the first quarter of 2025 (Eurostat, European Union statistical agency).

Sources:

  • CNN, "Reality check for Trump: How much does the US import from Russia?"
  • US Census Bureau, statistics data
  • Eurostat, European Union statistical agency
  • Centre for Research on Energy and Clean Air
  • United Nations, trade data
  • Vortexa, energy data firm

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