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Trade volume between Russia and UK down 40% in 2015 — UK ambassador to Russia

June 16, 2016, 11:24 UTC+3 ST. PETERSBURG

Meanwhile, the Russian ambassador told TASS that his estimates were more conservative than those of his UK counterpart

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© Sergei Smolskiy/ITAR-TASS

ST. PETERSBURG, June 16. /TASS/. Trade between Russia and the United Kingdom fell in 2015 by 40%, British Ambassador to Russia Laurie Bristow said on Thursday at the St. Petersburg International Economic Forum (SPIEF 2016).

"UK trade is down 40% with Russia because of the economy, the fall of the ruble," Bristow said. "Her Majesty’s government supports development of business ties between Russia and the UK, but within sanctions and within the law," he added.

At the same time, Ambassador of Russia to the United Kingdom Alexander Yakovenko told TASS that his estimates are more conservative. "According to our estimates, the last year’s decline totaled 50%," Yakovenko said. "Bristow sends the right signals to British business about the need to develop trade and economic relations with Russia, but the representatives of big business in Russia are not sure that London is ready to abandon the policy of containment.".

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