Trade flows with Russia since the start of its invasion of Ukraine

Maria Grazia Attinasi, Julia Doleschel, Rinalds Gerinovics, Vanessa Gunnella () and Michele Mancini

Economic Bulletin Boxes, 2022, vol. 5

Abstract: In the aftermath of Russia’s invasion of Ukraine, war-related disruptions and sanctions led to a sharp decline in trade flows with Russia. This box takes stock of recent and high frequency trade data to track flows of energy and agri-food commodities. It finds that Russia’s oil exports recovered from the post-invasion lows as some diversion of flows from sanctioning countries to Asia took place, whereas pipeline gas and agri-food commodity exports have significantly declined. The box provides an empirical assessment of the effects of the first round of sanctions in March 2022, which are estimated to have reduced Russian imports by about 15%. JEL Classification: F13, F40, B40

Keywords: energy; sanctions; Ukraine invasion (search for similar items in EconPapers)
Date: 2022-08
Note: 930374
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2022:0005:1

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