Continued Trade Ties Between US and Europe, Amidst Years of Conflict with Russia, Remain Intact, Bringing in Billions
In the first quarter of 2025, the global trade landscape with Russia has shown a mix of significant but varied import and export patterns across key commodities.
United States
The US continues to import essential commodities from Russia, despite ongoing sanctions. American imports of Russian fertilizers reached approximately $927 million in the first half of 2025, reflecting the country's ongoing dependence. Palladium imports have decreased significantly since 2021 but remain substantial, with $594 million worth imported in the first six months of 2025. Uranium and Plutonium imports stood at $755 million in the first half of 2025, marking an increase from the previous year. Direct US energy trade with Russia has fallen sharply, with trade declining by about 90% since the war started.
Europe (EU)
European imports from Russia have drastically decreased, particularly in the energy sector. EU imports from Russia for oil fell to €1.48 billion ($1.72 billion) for the first quarter of 2025, a significant decline from €14.06 billion in Q1 2021. Some countries, such as Hungary, Slovakia, France, Belgium, and Spain, still import Russian oil. Natural gas imports increased to $5.23 billion ($4.49 billion) in the first quarter of 2025, according to Eurostat data, despite a 13% year-over-year decline in Russian LNG exports to Europe in the first half of 2025. Iron and Steel imports halved from Q1 2021 to $850 million in Q1 2025, while fertilizer and nickel imports have remained nearly unchanged.
India
Indian imports from Russia have grown dramatically, with crude oil dominating the increase. Imports rose from $8.25 billion in 2021 to $65.7 billion in 2024, with crude oil accounting for $52.2 billion in 2024. India faces US tariffs (up to 50%) related to trade with Russia, especially crude oil, but Indian officials emphasize national interest and refute accusations of financing conflict. India defends its right to continue purchasing Russian energy despite US pressure, highlighting that Europe remains a larger Russian energy market.
China
China imports about 13.5% of its oil from Russia, remaining a significant buyer, though detailed updated import values for other commodities are not specified. China, like India, continues notable trade with Russia, especially in energy, despite Western sanctions.
A summary table provides a comprehensive overview of the commodities traded between the US, Europe, India, and China, highlighting the diverse and complex nature of these trade relations.
Despite political pressure and sanctions, many Western companies, including top 100 American-based companies, remain entrenched in Russia. India imported $67 billion worth of goods from Russia in 2024, with roughly $53 billion worth being petroleum oils and crude oil. The US imported $878 million worth of palladium from Russia in 2024 and $594 million worth in 2025. China imported roughly $130 billion in Russian goods in 2024, including $62.6 billion of petroleum oils and crude. European imports of Russian fertilizer have changed very little since 2021, with the first quarter of 2025 imports amounting to $640 million (550 million euros).
These dynamics reflect strategic, economic, and geopolitical complexities in 2025 trade relations, as countries navigate the challenges posed by ongoing conflicts and sanctions.
