Exports of goods to Russia from Western countries have halved, with the United States and Britain leading the way

Sanctions against Russia and restrictions on bank settlements with the outside world have hit the supply of goods to Russia from developed countries.

By the end of 2022, imports from countries that the Kremlin has declared "unfriendly" decreased by 47% to $80.2 billion, according to experts from the Gaidar Institute, based on foreign customs statistics, moscowtimes.eu reports.

The UK (-85%) and the US (-84%) have virtually stopped exporting to Russia; the flow of goods from the European Union (-51%), which was the main trade and technology partner for the Russian economy before the war, has halved.

Japan reduced supplies by 40%, and South Korea by 29%, according to data for the fourth quarter.

The share of "unfriendly" countries in import flows halved to 25% at the end of the year, and the total volume of lost imports amounted to about $72 billion.

At the same time, about half of this was compensated by supplies from countries that did not join the sanctions. They exported $179 billion worth of goods to Russia, 26% more than a year earlier.

The reorientation of import flows took place in the summer, experts of the Gaidar Institute write.

Turkey (+84%) and Kazakhstan (+52%) became the leaders in the growth of imports to Russia, which is probably due to the organization of parallel imports, experts write. At the same time, China increased supplies by only 19%, and India even reduced them by 4%.

Background. The day before, it was reported that the United States had threatened Kazakhstan with sanctions because of Russia's assistance.