Britain in June for the first time did not import energy from Russia
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In June, the volume of UK imports of goods from Russia fell to £33 billion, which is 96.6% lower than the average monthly figure before the start of the military operation in Ukraine. It is also the lowest figure in 25 years since January 1997, according to report British Statistical Service (ONS). The UK also did not import Russian fuel for the first time.
According to the ONS, the only commodity whose supplies from Russia to the UK increased were fertilizers. The volume of their imports amounted to £61.6 million. This is £1.4 million pounds, or 2.3%, more than the average delivered in the year before the hostilities in Ukraine, the British service noted.
Exports of British goods to Russia rose slightly from May to £83m, but were still £168m, or 66.9%, lower than before. In general, supplies of medicinal and pharmaceutical products, which are not subject to anti-Russian sanctions, grew.
According to ONS, during the 12 months until February 2022, the UK imported £499 million worth of Russian fuel. In 2021, Russia was one of its largest suppliers of petroleum products to the UK – its share in imports exceeded 24%. In March 2022, the British authorities refused pay for Russian gas in rubles. Poland suggested to agree at the level of the European Union the refusal of gas from the Russian Federation. In this case, to compensate for supplies, according to Fitch, Europe gone over three years. G7 Leaders (Great Britain, Germany, Italy, Canada, USA, France and Japan) consider introduction of a price ceiling for oil and gas from the Russian Federation.
About the situation on the market – in the publication “Kommersant” “Gas surged in price”.
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