UK imports from Russia plunge 97% after Ukraine invasion
Imports of goods into the UK from Russia shrank 96.6% to just £33m in June, the lowest since records began in January 1997.
For the first time on record, there were no imports of fuel from Russia, according to the figures from the Office for National Statistics (ONS).
Although exports to Russia slightly increased in June 2022, they dropped by £168 million (66.9%) compared with the monthly average before the Russian invasion of Ukraine. pic.twitter.com/149WDyxKMz
— Office for National Statistics (ONS) (@ONS) August 24, 2022
The UK announced import bans on a range of Russian products including iron and steel, silver, gold, wood products and high-end goods, and high additional tariffs on other items, following the Ukraine war.
Read more: TUC calls for £15 minimum wage amid cost of living crisis
Russia has subsequently been accused of weaponising energy by limiting gas supplies through the Nord Stream pipeline to Europe.
The import of goods dropped to £33m in June, the lowest level since records began in January 1997, according to the ONS.
There were no imports of fuels from Russia in June 2022 for the first time since records began in January 1997 https://t.co/kEZDVjvbm0 pic.twitter.com/ducdjk6AeL
— Office for National Statistics (ONS) (@ONS) August 24, 2022
This represents a 96.6% fall compared with the average monthly imports in the 12 months before the invasion in February this year.
The ONS said: “The economic sanctions applied by the UK government are likely to have driven the decreases in imports from and exports to Russia; however self-sanctioning, whereby traders voluntarily seek alternatives to Russian goods, is also likely a factor.”
Read more: One in four Britons have fallen victim to a scam since May
The ONS also reports that exports to Russia slightly increased in June 2022, but were 67% below their pre-invasion average:
Before the invasion Russia was the UK’s largest supplier of refined oil in 2021, accounting for 24.1% of imports, while also supplying 5.9% of the UK’s crude oil imports, and 4.9% of the UK’s gas imports.
The figures were published as Ukraine celebrated 31 years since it declared independence from the Soviet Union, while it also marked six months since Russia's invasion began.
Watch: Ukraine was 'reborn' when Russia invaded – Zelenskiy