2024-04-02 15:10:58
The report, presented by the press service of the office of US trade negotiator Katherine Tai, indicates a more than sevenfold reduction in trade turnover between Russia and the United States from 2013 to 2023, Day.Az reports.
Trade volume fell from $38.2 billion to $5.2 billion during the period.
The report notes that the decline in trade is largely due to the COVID-19 pandemic. The authors also point to “geopolitical tensions” and Russia’s domestic industrial and trade policies, including import substitution programs, as factors contributing to the decline in trade. In addition, expert analysis points to the role of “American sanctions and export controls” in reducing trade with Russia.
The report also highlights that US authorities continue to evaluate and analyze the impact of sanctions and counter-sanctions on trade. However, due to the “almost complete severance of ties with Russia,” opportunities for trade interaction are “extremely limited.”
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