UK Releases Sanctions Impact Report on UK Trade With Russia for June 2022
The U.K. Office for National Statistics released a report on the impact of the Russian sanctions regime on British trade with Russia as of June. The report found imports of Russian goods totaled over $38.65 million in June, a 96.6%…
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drop from the average monthly imports in the 12 months to February. The U.K. didn't import any fuel from Russia in June for the first time since records started being kept in January 1997, with alternatives found from Saudi Arabia, the Netherlands, Belgium and Kuwait, the report said. Imports of all commodities declined compared with the monthly average for the 12 months prior to February. While exports slightly increased compared with May, the levels dropped by 66.9% from the monthly average for the 12 months before February, the report said.