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9 Oct, 2023 05:23

US ramps up imports from Russia – Census Bureau

Overall turnover, however, is still significantly lower compared to last year, statistics show
US ramps up imports from Russia – Census Bureau

The US has increased imports of goods from Russia despite imposing widespread economic sanctions on Moscow, data published by the US Census Bureau revealed on Thursday.

In August, the volume of products imported from Russia jumped by $56.4 million and amounted to $298.1 million, according to the report. The figure, however, is much lower than that of February, when imports reached $642.8 million – a high for 2023.

Meanwhile, US exports to Russia have continued to decline, falling from $35.6 million in July to $32.1 million in August.

Trade turnover declined sharply after Washington imposed sweeping sanctions on Moscow in response to its military operation in Ukraine.

Last spring, the US banned imports of Russian oil products, diamonds, and seafood. It later placed additional tariffs on imports of Russian steel, aluminum products, rubber, wood, and other goods. As a result, US imports of ferrous metals from Russia have declined to almost zero.

For more stories on economy & finance visit RT's business section

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