More sanctions please: Russia-EU trade turnover surges by almost 22%
“Since the beginning of 2017, mutual trade between Russia and the European Union’s countries showed a tendency towards dynamic growth, which consolidated this year,” the envoy told Izvestia newspaper.
He cited statistics that in the first three quarters of 2018, trade turnover between Russia and the EU increased by 21.5 percent compared to the same period of the previous year.Also on rt.com Dollar-free business: German companies in Russia call for an alternative to US payment system
Russian exports to the EU countries increased by almost 30 percent while imports are up by 7.4 percent.
According to the diplomat the trade volume has already exceeded 2014 figures when Western anti-Russia sanctions were introduced.
“The current growth, in fact, shows mainly recovery. Meanwhile, Russia's trade with a number of EU member states, such as Portugal, Belgium, Ireland, Cyprus, Denmark, Romania, has already exceeded the figures for 2012,” Chizhov said.
The diplomat noted that the rising prices for energy commodities, which form the basis of Russian exports to the EU, as well as currency fluctuations were among the major factors of positive dynamics.Also on rt.com Russia-Austria trade soars almost 60 percent, approaching pre-sanctions record highs
“However, the main prerequisite, in my opinion, is a natural return of EU-Russia trade to a level that corresponds to the degree of interpenetration of our economies, in accordance with normal commercial logic and despite the rash political demarches of the West,” Chizhov concluded.
Russia is the third largest exporter to the EU and the bloc’s fifth biggest importer.
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