Germany imports less from Russia but pays more ...News

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Germany imports less from Russia but pays more
Surging energy prices along with Berlin’s attempts to reduce trade ties with Moscow have led to an imbalance German imports from Russia saw a dramatic 45.8% year-on-year decline in July, data from the Federal Statistical Office of Germany showed on Monday. However, in monetary terms, German purchases of Russian products surged 10.2% to €2.9 billion ($2.94 billion), data indicates. The imbalance arose due to soaring prices of oil and gas. The value of energy imports from Russia increased by 1.6% to €1.4 billion, according to the data, despite the much lower volume of purchases compared to the same period a year ago

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