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Sanctions push Russia-US trade turnover down by third in 2015 — trade representative

December 25, 2015, 15:07 UTC+3 NEW YORK
According to the trade representative, in 2015 the trade turnover between the two countries has already plunged by more than 30% while by the end of the year "this will be a fully valid one third."
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© AP Photo/Mel Evans

NEW YORK, December 25. /TASS/. The trade turnover of the Russian Federation and the United States dropped by third in 2015 mostly due to current sanctions in mutual trade and economy, Russia’s trade representative in the US Alexander Stadnik told TASS.

"The main reason is the current conjuncture in a number of most important segments of the global trade and economy unfavorable to us as well as sanctions, which directly affect bilateral trade and economic ties," Stadnik said.

According to the trade representative, in 2015 the trade turnover between the two countries has already plunged by more than 30% while by the end of the year "this will be a fully valid one third."

Whereas in 2014 the trade turnover between Russia and the US stood at around $25 bln, Russian export exceeded $9 bln, the US import was almost $16 bln by the end of 2015 it will hardly breach $20 bln, Stadnik said. In January-October period bilateral trade turnover stood at around $17.4 bln (30.5% decrease), Russian export equaled to around $8 bln while the US import to Russia was about $9.4 bln.

However, Russia also boosted its export to the US in a number of items, he added, as supplies of mineral, chemical and potash fertilizers skyrocketed by almost 140% in 2015 as well as export of machines, equipment and transport vehicles rose by 40% while fabric and footwear surged by 60%.

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