Report indicates Russian ship-outs increasing despite Western sanctions
(MENAFN) Russia’s exports have significantly increased compared to pre-conflict levels, despite extensive Western sanctions, according to a report from the German Economic Institute. Since 2022, the US, EU, UK, Canada, Japan, and other countries have imposed broad sanctions targeting Russia’s financial systems, trade, and energy exports. Moscow has repeatedly criticized these measures as unlawful and ineffective.
The report highlights that Russian exports to its top 20 trading partners rose by 18% in 2024 compared to 2021, amounting to approximately $330 billion in goods. Early data for 2025 indicates this trend is continuing. Key buyers include China, India, Türkiye, and Brazil, primarily importing oil, gas, and raw materials. While Russia has redirected much of its trade toward the Global South, Hungary and Slovakia remain important partners within the EU.
US Senator Lindsey Graham has proposed legislation to impose 500% secondary tariffs on imports from countries purchasing Russian energy, but analysts doubt that former President Trump would support such measures and question their practical feasibility. US Treasury Secretary Scott Bessent cautioned that such high tariffs might hinder diplomatic efforts to end the Ukraine conflict.
President Vladimir Putin recently praised Russia’s robust economic performance under challenging conditions, citing the International Monetary Fund’s ranking that places Russia fourth worldwide in terms of purchasing power parity—a metric that compares countries’ economic productivity and living standards adjusted for cost differences.
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