Overseas Trade: Russia

(asked on 8th September 2022) - View Source

Question to the Department for International Trade:

To ask the Secretary of State for International Trade, what assessment her Department has made of the effectiveness of UK sanctions against Russia on reducing trade with that country.


Answered by
James Duddridge Portrait
James Duddridge
This question was answered on 26th September 2022

With allies, we continue to impose the most severe economic sanctions Russia has faced, stifling the Russian economy.

According to Department for International Trade analysis of HMRC trade data, UK-Russia trade in goods that is now wholly or partially sanctioned was worth £19bn in 2021.

Office for National Statistics analysis shows that UK goods exports to Russia in June 2022 were 67% lower than average monthly exports in the 12 months to February 2022, while UK goods imports from Russia were 97% lower. This was the lowest value of UK goods imports from Russia since records began in January 1997.

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