The economist pointed out the decline in the trade importance of the European Union for Russia

Director of the Center for Economics and Infrastructure Industries of the Center for Strategic Research (CSR), Beglyar Novruzov, pointed to a decrease in the share of trade importance European Union (EU) for Russia against the backdrop of ongoing sanctions pressure. His words lead TASS.

The expert noted that the country is reorienting its logistics chains and transport complex. He said that the share of Russian exports to the west in 2021-2022 was about 25-30 percent of the total volume. Now part of these products will be delivered in a southern direction, mainly through the ports of the Black and Azov Seas, as well as through land and water routes of the North-South corridor.

Novruzov added that the vector of supply movement should be taken into account for traditional partners in South America and Asia, as well as for new markets in Africa, Latin America and the Middle East.

“Thanks to this, we predict a recovery in export volumes primarily to the western direction by 2025,” the specialist predicted.

He said that in the southern direction, work to strengthen the transport infrastructure and increase the capacity of railways and ports is being completed. Work is also underway to develop road transport.

As a result of these efforts, Russian exports will grow to 30 percent by 2030. The transport orientation will shift from the European Union countries, which previously accounted for 40 percent of exports, towards the countries of the Middle East and Central Asia; deliveries will be carried out through the Black Sea.

Previously, Associate Professor of the Department of Economic Policy and Economic Measurements, IEF, State University of Economics Maxim Chirkov toldthat currently the EU’s losses from anti-Russian sanctions are simply prohibitive. He noted that now the situation in the European economy continues to rapidly deteriorate.

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