Deliveries to Russia from the United States against

the backdrop of sanctions decreased by five times, including drugs and cars, have fallen at times. Import of goods from RUSSIA, on the contrary, increased,

U.S. exports of goods to Russia in March 2022 fell nearly fivefold in value to $101.1 million, from $497.5 million in February 2022 and $476.3 million in March last year, according to the Bureau's foreign trade statistics. US census (Census Bureau, the American analogue of Rosstat), studied by RBC. The indicator for March was the lowest monthly in the history of Russian-American trade since at least 2002 (since that time there are monthly Census Bureau data, until 2002 - only annual data).

Since the end of February, against the backdrop of a special operation in Ukraine, Russian foreign trade with Western countries has faced difficulties due to sanctions against the state corporation VEB.RF and a number of Russian banks, including those servicing trade settlements, and also because counterparties expect further restrictions. The United States also imposed direct trade sanctions, for example, on the EXPORT of technological products to Russia, and in March it banned the supply of luxury goods ( ALCOHOL , perfumes, handbags, jewelry, watches, etc.) to Russia. Also, American companies began to announce the suspension of work in the Russian market.

The United States included spirits, pianos and electric cars in the embargo on supplies to Russia Economy

Zeroing of US exports for a number of items

In particular, the volume of exports of American cars to Russia decreased from $83 million in February to $20 million in March, pharmaceutical products - from $60 million to $14 million. drilling machinery, etc.) fell to $20 million from $90 million in February ($87 million in March 2021).

In March, deliveries of American engines for civil aircraft to Russia practically zeroed out, while in February they accounted for $36 million in turnover, in March 2021 - $39 million. their components or aircraft manufactured in another country, but consisting of more than 25% of American products, that is, in fact, banned the supply of a wide range of aviation products to Russia.

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On March 11, the administration of US President Joe Biden banned the export of luxury goods to Russia, estimating that this embargo would affect goods with a total export value of $550 million a year. This ban was reflected, for example, in the reduction of American jewelry exports to Russia to almost zero in March (compared to $9.9 million in February).

Temporary increase in imports from Russia

On the contrary, the sanctions have temporarily boosted exports from Russia to the United States, as the US authorities provided for a transitional period before they fully take effect. Russia's total exports to the United States in March increased by 6.5% compared to February, to $2.75 billion (in February 2022 it was $2.58 billion, in March last year - $2.56 billion). First of all, this was due to the increase in crude oil supplies - up to $363 million - compared to $63 million in February. On March 8, the United States imposed an embargo on the import of oil, petroleum products, liquefied natural gas from Russia, but gave time until April 22 to complete contracts concluded before March 8.

Analysts assessed the consequences of the EU embargo on Russian oil Economics

In March, the US imported $1.35 billion worth of oil products from Russia (up from $1.31 billion in February), but after April, we should expect such imports to zero. Back in February, the United States imported $29 million worth of LNG from Russia, and in March there were no such deliveries, according to American trade statistics.

In March, the US also banned imports of seafood and diamonds (except industrial) from Russia. Diamonds were allowed to be imported until March 25: their shipments from Russia to the United States were reduced to $2 million compared to $25 million in February. Although the deadline for residual supplies for seafood is June 23, 2022, already in March, US imports of this product from Russia (mainly frozen crabs) fell to $89 million, from $140 million in February ($130 million in March 2021).

Deliveries of Russian nickel and aluminum to the US rose to $132 mn in March from $53 mn in February, which could be due to expectations of additional trade restrictions. Imports of mineral fertilizers from Russia also increased in value terms (to $157 million from $148 million in February). The United States clarified that the sanctions imposed do not apply to Russian fertilizers, as well as food, food additives, and seeds.

The Federal Customs Service (FCS) has suspended the publication of monthly data on Russia's foreign trade, without specifying a possible date for its resumption. Data for February and March, including by countries - trading partners and product categories, were not published. The Bank of Russia expects that exports of goods and services from Russia in 2022 will decline to $505 billion (from $550 billion a year earlier), and imports of goods and services to $321 billion (from $379 billion in 2021).

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