UK imports from Russia have fallen by 96.7% since Vladimir Putin’s invasion of Ukraine, official figures show.
Imports of goods from Russia in June 2022 were 33 million pounds, the lowest level since records began in January 1997, according to the Office for National Statistics.
June 2022 was the first month on record that the UK did not import fuel from Russia, which averaged £499m a month until February 2022.
The ONS said: “Economic sanctions imposed by the UK government have led to a reduction in imports and exports to Russia; however, self-permission by traders to voluntarily seek alternatives to Russian products is also a factor.
The UK government announced in March Russia must stop importing oil by the end of this yearand ending Russian liquefied natural gas imports as soon as possible.
While oil imports are allowed during this transition period, companies are encouraged to secure oil from alternative sources, resulting in a sharp and sustained drop in fuel imports from March 2022.
Before the invasion, Russia belonged to the United Kingdom. Largest supplier of refined oil by 2021It accounted for 24.1 percent of imports, while it accounted for 5.9 percent of UK crude oil imports and 4.9 percent of UK gas imports.
Energy prices across Europe rose to eye-watering levels as Russia cut gas flows to the continent, raising the prospect of a widespread industrial blackout and a rate hike in supplies.
UK imports from Russia have fallen by 96.7% since Vladimir Putin’s invasion of Ukraine, official figures show.
Imports of goods from Russia in June 2022 were 33 million pounds, the lowest level since records began in January 1997, according to the Office for National Statistics.
June 2022 was the first month on record that the UK did not import fuel from Russia, which averaged £499m a month until February 2022.
The ONS said: “Economic sanctions imposed by the UK government have led to a reduction in imports and exports to Russia; however, self-permission by traders to voluntarily seek alternatives to Russian products is also a factor.
The UK government announced in March Russia must stop importing oil by the end of this yearand ending Russian liquefied natural gas imports as soon as possible.
While oil imports are allowed during this transition period, companies are encouraged to secure oil from alternative sources, resulting in a sharp and sustained drop in fuel imports from March 2022.
Before the invasion, Russia belonged to the United Kingdom. Largest supplier of refined oil by 2021It accounted for 24.1 percent of imports, while it accounted for 5.9 percent of UK crude oil imports and 4.9 percent of UK gas imports.
Energy prices across Europe rose to eye-watering levels as Russia cut gas flows to the continent, raising the prospect of a widespread industrial blackout and a rate hike in supplies.
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