NATO member state reports growing exports to Russia
Exports from Estonia to Russia are growing despite Western sanctions, authorities in the Baltic state have acknowledged.
In March, exports to Russia increased from €57 million ($61 million) to €74 million ($79 million) on an annual basis, Yane Leppmets, an analyst at the country’s Statistics Department, told Estonian state broadcasting portal ERR on Wednesday.
“44% of exports are machinery and transport equipment: these are printing machines and centrifuges,” she specified.
Leppmets attributed the growth to surging inflation, explaining that the volume of goods remained approximately the same but prices have risen.
Estonia, which is a member of NATO, has been among the most vocal critics of Russia and has been pushing Brussels for more stringent sanctions on Moscow. The country’s foreign ministry has urged local businessmen to abandon trade with the sanctioned country.
“Estonia has always been a supporter of tough sanctions. We call on Estonian enterprises to comply with these tough sanctions,” Tynis Nirk, a ministry representative, told ERR.
Meanwhile, Russia has reiterated that it is resilient to the pressure of international restrictions that has been growing over the past year.
Russian President Vladimir Putin earlier said that forecasts of the Russian economy’s collapse due to sweeping Western sanctions were inaccurate and, on the contrary, the country’s sovereignty has been significantly enhanced.
The global economy has undergone significant changes, but Russia has adapted and is “becoming one of the leaders in these processes,” he added.
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