STOCKHOLM, November 20. /TASS/. The list of bilateral trade between Russia and Sweden has started to expand again, the new Russian Ambassador to Sweden Sergey Belyayev said in an interview with TASS.

"According to Swedish statistics, the list of bilateral trade that had contracted to a minimum level last year has started to expand again in 2024. Over eight months of 2024, the number of goods subcategories of Swedish imports to Russia increased 1.5-fold, while Swedish exports to our country rose 2.3-fold. We hope that this trend will gain momentum, as trade, as is well-known, is the driving force of history," he said.

In 2019, trade turnover between the two countries exceeded $6.4 billion, while in 2023 it fell to $928 million, the diplomat said. The majority of the 400 Swedish companies operating in Russia have left the Russian market due to political pressure. "The value of Russian commodity exports to Sweden barely surpassed $40 million in the first eight months of 2024, with liquefied natural gas (LNG) accounting for almost half (48%). From time to time, we hear political statements about the necessity to fully abandon Russian LNG, though Swedish business circles avoid strong phrasing, as business can measure the money," Belyayev said, adding that aluminum scrap is also a major item of Russian export to Sweden now.

As a result of sanctions, Sweden "lost Russian energy resources, uranium fuel, mineral fertilizers, metals, plywood, feedstock for the chemical industry and for the production of animal feed, and faced high costs for organizing new logistics chains," he said. The kingdom fully suspended supplies of motor vehicles, electric, and telecommunication equipment. "The only item that increased over the past two years is pharmaceuticals, raw materials and substances for their production, which now account for over 95% of Sweden’s exports of goods to our country," the envoy noted.