Russia’s trade with one Middle Eastern country soars to a record high
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In 2022, Russia’s trade with the United Arab Emirates (UAE) broke a record. According to the head of the Ministry of Industry and Trade Denis Manturov, it grew by 68 percent at once – up to $9 billion, RIA Novosti reports.
The volume of Russian exports to the UAE grew by 71 percent ($8.5 billion), imports – by 6 percent to $0.5 billion. In terms of trade with Russia, the UAE now ranks first in the world among the Arab countries.
In January, the U.S. Treasury Department warned the UAE and Turkey about the possible consequences of cooperating with sanctioned Russian entities.
In particular, Washington warned that these countries could lose access to the US market.
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