Consequences of the Ukraine war: Economic relations with Russia not at zero
Trade between Germany and Russia has shrunk significantly since the start of the Ukraine war. However, some relations continue.
Germany's trade with Russia has significantly declined since the start of the Ukraine war. In the first half of 2024, German firms imported 96.4% less from Russia than in the same period in 2021, with imports valued at 0.5 billion euros, down from 15 billion euros, primarily due to reduced gas and oil imports. German exports to Russia also decreased, with a total value of 3.4 billion euros, a quarter of the 2021 level, with pharmaceutical products making up 42.4% of exports.
The number of Russian-controlled companies in Germany and German companies in Russia has also decreased, with reduced revenues and numbers of employees and students.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
