Russian exports to Europe down two-thirds in 2023

MOSCOW, Feb 12 (AFP): Russian exports to Europe dropped by more than two-thirds in 2023, as the EU drastically cut its purchases of Russian oil and gas, Russia's customs agency said Monday.
EU countries have halted the vast majority of their energy purchases from Russia in a bid to heap economic pressure on Moscow over its military offensive against Ukraine.
Russian exports to Europe dropped 68 per cent in 2023 to $84.9 billion, the Interfax news agency cited Russia's federal customs agency as saying.
Exports to Asia-which has replaced Europe as the country's main energy client-were up 5.6 per cent to $306.6 billion, the agency said.
After it was hit with Western sanctions, Moscow stopped publishing a vast array of economic statistics, including trade data with individual countries.
Separate Chinese customs data showed two-way trade between the two countries hit a record $240 billion last year, amid growing economic, trading and political ties between Beijing and Moscow.