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26 Nov, 2018 13:08

Trade between Russia & Britain on rise despite sinking relations

Trade between Russia & Britain on rise despite sinking relations

Trade turnover between Russia and the UK may reach $14 billion by the end of 2018, according to Boris Abramov, a Russian trade representative in the UK. Businesses are clearly shrugging off the singularly fraught relationship.

“The volume of mutual trade has nearly reached $10 billion from January through September of the current year, marking a 29 percent growth compared to the same period a year ago,” Abramov said at the 4th Russian-British Business Forum, kicking off in London.

The Russian official added that non-resource exports had increased by eight percent during the indicated period.

“By the end of the year, we expect mutual trade to reach $14 billion,” Abramov said.

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The comments come amid steadily escalating diplomatic conflict between Moscow and London. Russian-British relations have sunk to historic lows this year after the UK government blamed Russian military intelligence of poisoning former Russian double agent Sergei Skripal and his daughter Yulia.

The incident, that is still being investigated, evoked a wave of tit-for-tat diplomatic expulsions between Russia and the Western countries, including toughening of US sanctions.

Last week, the new head of the British army General Mark Carleton-Smith said Russia posed a bigger threat to the UK national security than Islamic terrorist groups such as al-Qaida and Isis.

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