Trade between Russia and the United States

The main articles are:

• Russia's Foreign Trade
• US Foreign Trade

2023

Imports of goods from Russia to the United States for the year decreased three times to $4.57 billion

Imports of goods from Russia to the United States in 2023 tripled compared to 2022 - to $4.57 billion from $14.44 billion. This is evidenced by the data of the US Census Bureau (Census Bureau, an analogue of the Russian Rosstat), which were published in February 2024.

RBC noted the main areas of supply of Russian products to the American market:

• imports of Russian palladium (unprocessed) in 2023 amounted to $1.08 billion against $1.35 billion a year earlier;
• US mineral fertilizers imported $1.35 billion against $1.75 billion in 2022;
• the import of turbojet engines from the Russian Federation to the United States in 2023 reached $91 million;
• deliveries of ferrous metals from Russia to the United States decreased 6 times, to $201.5 million.

Pexels

According to the US Census Bureau, the volume of American exports to Russia in 2023 amounted to $597 million against $1.66 billion in 2022. The largest article is pharmaceutical products ($164 million, a decrease from $254 million a year earlier). At the end of 2023, the United States also exported $158 million worth of tools and equipment to Russia - mainly medical devices, X-ray-based equipment, etc.

After the start of the Russian special operation in Ukraine, the United States sanctioned most of the Russian goods, and also imposed increased tariffs on imports from Russia. Thus, the United States banned the import of Russian oil and oil products, diamonds and seafood. In addition, a 35 percent barrier tariff was imposed on imports of steel, certain types of aluminum products, rubber, wood, etc. After that, imports of ferrous metals from Russia to the United States dropped to almost zero. However, goods such as nuclear fuel, mineral fertilizers and platinum group metals were not sanctioned.^[1]

The United States purchased Russian uranium for a record amount - $1.19 billion

The supply of Russian enriched uranium to the United States in 2023 reached a record $1.19 billion against $830 million a year earlier. This is evidenced by data from the US Census Bureau, released in February 2024.

According to RBC, citing statistics from the department, in physical terms, uranium imports from the Russian Federation to the United States in 2023 amounted to 701.8 tons, which significantly exceeds the volume of 588.4 tons a year ago.

source = Rosatom

Candidate of Economic Sciences, Associate Professor of the Department of Informatics of the Plekhanov PRUE Alexander Timofeev, commenting on the news of record purchases of Russian uranium by the United States, in a conversation with Rossiyskaya Gazeta suggested that the United States could solve two problems at once:

• increase the reserves of this radioactive metal, since the country has opportunities and technologies not only for transportation, but also for storage
• to increase the dependence of the European Union on the United States: any assistance from the United States forces the EU to agree to those economic decisions in the anti-Russian sanctions policy, which they would not have gone to, again out of economic inexpediency for themselves.

According to the expert, there is no official data from Russian companies regarding uranium supplies to the United States. If we rely on American statistics, we can conclude that Washington is ready to help its allies in the EU by shipping them part of the radioactive metal, continues Alexander Timofeev. Thanks to these supplies, the United States earns itself and compensates for other costs, he added.

According to Igor Yushkov, an expert at the Financial University under the Government of the Russian Federation, record supplies of Russian uranium to the United States may indicate that American companies are preparing for a possible ban on the purchase of this radioactive metal from the Russian Federation.^[2]

The United States doubled the purchase of uranium from Russia

At the end of August 2023, it became known that the United States more than doubled the purchase of uranium from Russia, despite the current geopolitical situation.

According to RIA Novosti, referring to the data of the American Statistical Service, in the period from January to June 2023 inclusive, Russia supplied approximately 416 tons of uranium to the United States. This is 2.2 times more than the result for the same period in 2022, when shipments were estimated at 188 tons. The last time such high values ​ ​ were recorded in 2005, when 418 tons of fuel from Russia were imported into the United States.

US increases uranium purchases

It is noted that Russia supplies only uranium-235 enriched fuel to the United States. During the first half of 2023, Washington paid about $696.5 million for the supplied Russian uranium, the maximum figure since 2002. On an annualized basis, the cost of deliveries increased 2.5 times, and the share increased by 13% - to 32%.

Bloomberg reports that Rosatom remains the world's largest uranium producer. That corporation still supplies fuel to nearly a quarter of the 92 American nuclear reactors and dozens of other power plants in Europe and Asia. Western governments have avoided sanctions against Rosatom because it could cause significant damage to their own nuclear industry.

During the first six months of 2023, the United States also significantly increased the purchase of uranium from Britain: the increase was 28% - to $383.1 million. As a result, British fuel accounted for a little less than 18% of all American imports. During the period under review, France imported $319 million of fuel to the American market against only $1.9 million a year earlier: this ensured a share of 15%. The five largest suppliers also included Germany with $277 million and a share of about 13% and Canada with $247.5 million and 11%.^[3]

Trade turnover of countries decreased to $277 million in July, of which 90% are supplies from Russia to the United States

In July 2023, the official trade between Russia and the United States updated the anti-record, reaching $277 million - 11 times less than it was in February 2022 (before the imposition of sanctions), and almost 13 times less than in July 2021.

It is noted that almost 90% of trade is made up of Russian supplies. American exports in July fell to $36 million. Russia mainly supplies the United States with nuclear fuel, mineral fertilizers and platinum group metals (palladium, platinum, rhodium).

US increased imports of fertilizers from the Russian Federation by 127%

In the first quarter of 2023, fertilizer imports from Russia to the United States reached $596 million, which is 127.4% more than in the same period a year earlier ($262 million). This is stated in the study "Roscongress," as a result of which they were published in August 2023. Read more here.

2022

Trade with the United States decreased 2.2 times to $16.2 billion due to the conflict in Ukraine. Share in Russia's foreign trade - 2%

The share USA in foreign in to trade Russia 2022 amounted to less than 2%, and the volume of trade between the two countries more than doubled, - FCS

In 2022, US trade with Russia collapsed 2.2 times, from $36 billion in 2021 to $16.2 billion. Imports from the United States to Russia immediately fell 3.7 times, the lowest figure since 1999, and exports of Russian goods to the United States fell almost 2 times.

In March 2022, after the outbreak of the conflict in Ukraine, exports from the United States to Russia fell five times compared to February. April statistics showed its further fall and the collapse of US-Russian trade. The import of goods from the United States to Russia in value terms amounted to $89.1 million against $101.1 million in March, which is a new minimum for the month since at least 2002. Shipments of cars, boats, agricultural vehicles were practically reset.

Record diesel supplies from Russia to the United States in February

According to oil data provider Vortexa, about 1.55 million barrels of diesel will be delivered from Russia to the United States in February 2022, a record over the past three years. At the moment, this represents 22% of February diesel imports to the United States.

The growing share of Russian imports is another illustration of the country's critical role in securing the world with oil.

Some U.S. gasoline producers that have relied on Russian oil imports are looking for alternative supplies amid heightened tensions in Eastern Europe.

While the U.S. is the world's largest oil producer and one of its largest exporters, it still depends on crude imports, and Russia is one of the main suppliers.

The versatility of Russian fuel oil makes it more in demand. Valero Energy Corp., Exxon Mobil and Chevron are among the largest buyers of Russian fuel oil.

"Any restrictions on Russian flows will cause pain solely on the buyer's side, because the Russians can easily place their fuel oil in China or India," said David Vech, chief economist at Vortexa Ltd.. "This will put the U.S. in a difficult position because of the impact on gasoline prices," he said.

2021

The United States is Russia's fourth largest trading partner

The main trading partners of Russia in 2021 among non-CIS countries were:

• China, trade with which amounted to $140.7 billion (135.2% by 2020);
• Germany - $57 billion (135.7%);
• Netherlands - $46.4 billion (162.6%);
• US - $34.4 billion (143.6%);
• Turkey - $33 billion (157%);
• Italy - $31.4 billion (154.7%);
• South Korea - $29.9 billion (152.2%);
• Britain - $26.7 billion (3.4%);
• Poland - $22.5 billion (156.2%);
• France - $22 billion (172.8%).

Structure of Russian exports to the USA

USA is the third largest importer to Russia

2020: Trade turnover between the Russian Federation and the United States in January-April increased by 5.5%, to $8.8 billion

Trade turnover Russia between the United States in January-April 2020 increased by 5.5% compared to the same period a year earlier and amounted to 8.828 billion, according dollars to data from the Federal Customs Service of the Russian Federation.

Including exports from Russia to the United States amounted to $4.112 billion (an increase of 7.4%), imports to the Russian Federation from the United States - 4.716 billion (an increase of 3.9%).

2019

USA - the fourth largest importer to Russia with a volume of $13.7 billion

Decrease in trade turnover in the first half of the year to $13.2 billion

Over 5 years, trade has decreased with all key partners of the Russian Federation, except for China

2018: Trade between Russia and the United States rose to $25 billion

On March 26, 2019, information appeared that in 2018, trade between Russia and the United States reached $25 billion. The growth has been noticeable for two years, but the indicator still falls short of the 2011 record of $31 billion.^[4]

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