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US imports from Russia up despite sanctions

Samizdat – October 6, 2022

US imports from Russia reached $522.1 million in August, 7.7% more than the July total of $484.8 million, marking the first monthly increase since April, according to a report released on Wednesday by the US Census Bureau.

The growth comes despite US President Joe Biden’s pledge to deal a “crushing blow” to Moscow through restrictions on commodity trade.

According to analysts, Washington continues to benefit from the anti-Russia sanctions. While pressuring the EU to give up supplies from Russia, the US continues to buy hundreds of unsanctioned types of goods.

“There is a tacit agreement between the US government and business: we puff our cheeks, and you trade with Russia if it suits you. Their words don’t meet their actions,” Aleksandr Razuvaev, a member of the supervisory council at Moscow’s Guild of Financial Analysts, told Russian state media on Wednesday.

Meanwhile, exports of American goods to Russia slumped by 19% to $66.8 million in August from $82.5 million in July. In June, Russia imported goods worth $58 million, down from $77.4 million in May, and $89.1 million in April.

The data shows that in total from January to August the US imported goods from Russia worth $12.1 billion, while exports stood at just $1.3 billion.

October 6, 2022 - Posted by | Economics | ,

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