Russian business is flourishing in Estonia: despite the sanctions, certain goods are being imported at a whirlwind pace

Estonia’s foreign trade statistics reveal a continued, though declining, import of goods from Russia despite sanctions. Swedbank chief economist Tõnu Mertsina reported that while exports to Russia have decreased significantly this year, imports from Russia constitute approximately 10 percent of total imports. Mertsina’s analysis of Estonia’s foreign trade indicated that the primary driver of the decline in exports to Russia is the reduction in goods originating from Estonia being shipped to the country.

In July, the share of Russian exports to Estonia was 1.7 percent. Statistics and customs declarations show that 100 percent of liquefied natural gas (LNG) has continued to be imported from Russia. In July, LNG accounted for 5 percent of total imports from Russia, while gaseous natural gas comprised 59 percent.

Furthermore, 60 percent of the natural gas imported to Estonia from Russia during July and since the beginning of the war in Ukraine originated in Russia. New sanctions introduced in Russia in July prohibited private individuals from importing or exporting certain goods, including furniture, wood products, potassium-containing fertilizers, tires, cement, caviar, eggs, and specific alcoholic beverages. Restrictions on beer, wine, and caviar quantities were also implemented.

Topics: #estonia #certain #russia