German exports to Russia sink

Sales slumped by 63% in March due to sanctions, data shows German exports to Russia plummeted to about €860 million ($905 million) in March “because of the sanctions imposed,” as well as “further measures to restrict exports, and unsanctioned behavior of market participants,” Germany’s federal statistical office said on Wednesday. That is the lowest level of exports in almost two decades. Imports from Russia declined by 2.4% month-over-month to €3.6 billion ($3.8 billion) in the same period. The disruption of trade with Moscow led to a 3.3% fall in overall German exports last month, according to the press release.

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Last updated : 04 May 2022 clock 02:14 PM

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