Import numbers are down significantly from 2023, but supplies are still high.
In the first quarter of 2024, the European Union imported 1.11 million tons of mining and metallurgical products from Russia in the amount of 583.3 million euros. This was reported by the GMK center in relation to Eurostat data.
According to the publication, 78.7% of imports are semi-finished products. In the first three months of the year, EU countries imported 874.1 thousand tons of such products from the Russian Federation, which is 4.2% more than the corresponding period last year. The main volume of imports of semi-finished products is from Belgium – 351.38 thousand tons (+2.2%).
The general dynamics of product supplies and the main recipient countries are shown in the infographic:
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The GMK center notes that, despite the sanctions imposed against Russia, the country’s mining and metallurgical complex continues to receive significant income from exports of products to the EU.
“And even though the numbers have dropped significantly compared to 2023, supplies still remain at a high level,” the publication wrote.
Let’s remember that in February of this year the European Union adopted the 13th package of sanctions against Russia. In May, the European Commission sent proposals to EU countries for the 14th package of sanctions.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.