Pres. Trump is mulling increased sanctions on Russia in coming days as a result of frustration with Russia’s Pres. Putin after the drone strikes over the weekend.
US trade with Russia represents less than 0.3% of total U.S. international trade from most recent data, making Russia a very minor trading partner for the United States.
Key Trends:
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U.S. exports to Russia have dropped significantly from over $5 billion annually pre-2022. At then end of 2023 is was only $1.9B
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U.S. imports from Russia—mainly oil, platinum, and industrial materials—have also been slashed due to sanctions and bans.
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Overall, bilateral trade is at its lowest levels in over 20 years.
This article was written by Greg Michalowski at www.forexlive.com.
