Posted 11/27/2023, 9:50:18 AM
French Exports to Russia Halved, But Limited Impact as Trade Diverts to Neighbors
- French exports to Russia fell 52% from 2021-2022 due to EU sanctions, but loss is limited (0.8% of total French exports, €4 billion)
- 3 sectors most affected transportation equipment, chemicals, machinery
- Trade diverted to neighboring countries like Kazakhstan, possibly re-exported to Russia
- Questions effectiveness of EU trade sanctions on Russia
- EU proposed 12th round of Russia sanctions, but neighbors help evade impact