INSUBCONTINENT EXCLUSIVE:
exports to Russiadropped to a 20-year low in March as Washington hit Moscow with a series of punishing economic sanctions over its invasion
of Ukraine, according to the latest U.S
exports to Russia dropped from $497.5 million in February to $101.1 million in March, according to the U.S
Bureau of Economic Analysis
That compares to Russia-bound U.S
export volume to Russia was the lowest in the history of U.S.-Russian trade since monthly data became available in 2002, the RBC news
websitereported Friday.Between February and March, U.S
auto exports to Russia plunged from $83 million to $20 million, pharmaceuticals from $60 million to $14 million and embargoed aircraft
engines and luxury goods to nearly zero.Meanwhile, U.S
imports from Russia saw a slight increase from $2.5 billion in February to $2.7 billion in March.Russian oil shipments to the U.S jumped
from $63 million in February to $362 million in March.The spike was attributed to U.S
imports of Russian natural resources.The United States last month ended normal trade relations with Russia and imposed export and import
restrictions on Russia over its invasion of Ukraine.Russian customs officialsclassified export and import data in April ahead of an
anticipated drop in trade amid heavy Western sanctions.
