Germany pays billions for imports from Russia: Bureau of Statistics

BERLIN – German imports from Russia reached €2.9 billion ($2.95 billion) in July, according to data released on Monday. This is because Germany’s efforts to shrink have been frustrated.

German imports from Russia increased by 10.2% compared to July 2021, according to the Federal Statistical Office.

The office believes higher prices, especially in the energy sector, are the main culprit, as cuts in Russia’s gas supply raise energy bills for homes and businesses in Europe’s largest economy.

In July, Germany imported €1.4 billion of crude oil and natural gas from Russia, up 1.6% year-on-year.

Russian imports of coke and petroleum products were valued at €500 million, up 72.5%, while Russian coal imports more than doubled to €300 million.

Data showed that Germany was able to reduce the overall volume of goods imported from the country by 45.8% in July, while imports from Russia increased.

Meanwhile, German exports to Russia fell by 56.8% in value terms as Germany strengthened its export business with the United States and neighboring countries France and the Netherlands.

($1 = 0.9831 Euro)