Slovakia has become the EU's top buyer of Russian goods for the first time

Slovakia became the largest importer from RUSSIA to the EU (€320.9 million, Italy  is second with €319.2 million) in August, according to Eurostat data. This was due to the import of crude oil from Russia for €178.7 million, while the EU imported Russian oil for €361 million in August (it was also imported in descending order by Hungary, the Czech Republic and the Netherlands). Slovakia also imported natural gas (pipeline) from Russia for €106.6 million in August (Hungary purchased it for €204.8 million).

In July, the largest importer was Hungary (€429 million, Slovakia was only in ninth place). Hungary ranked first in imports from Russia in May, June and July. Before that, Italy ranked first (in March and April). According to the results of the first eight months of 2024 , the first in imports from Russia is Hungary (more than €3.1 billion), the second is France (€2.39 billion), and the third is Italy (€2.31 billion).

Total EU imports from Russia in August amounted to €2.618 billion, down 24% from January 2024 (€3.463 billion). As for EU exports to Russia, Germany ranks first (in August) with €628 million. Italy ranks second (€291.6 million).

At the same time, according to statistics, between the first quarter of 2022 and the second quarter of 2024, EU imports from Russia fell by 87% in value terms. At the same time, in the second quarter of this year, imports from Russia to the EU and exports to Russia decreased by 16.0% and 9.5%, respectively, compared to the previous quarter.

The main groups of goods imported by the EU from Russia include nickel, gas,oil , fertilizers and metals. The main product groups in EU exports to Russia are: vehicles, pharmaceuticals, electrical equipment and plastics.

After the start of the military operation in Ukraine, Western countries imposed sectoral sanctions against Russia and froze the assets of the Russian Central Bank in the form of cash and securities worth about €260 billion. More than two-thirds of them are in the Belgian Euroclear. The profit from them for 2023 amounted to €4.4 billion, and in the six months since the beginning of this year - another €1.74 billion.

Slovakia, represented by its current Prime Minister Robert Fico, has repeatedly spoken out against anti-Russian sanctions and arms supplies to Ukraine. In October, he promised to resume economic ties with Russia if the conflict ends before his term ends in 2027. “The European Union needs the Russian Federation, the Russian Federation needs the European Union. Friendly relations with Ukraine will be very important for us [too],” he said.

Moscow condemns Western sanctions and considers them illegal. President Vladimir Putin warned that sanctions would have insurmountable consequences for EU countries and their citizens, and would also cause a global crisis . Russia,  however, is “confidently coping with external challenges,” he emphasized.

Read RBC on TELEGRAM .