The bilateral trade relationship between the EU and Russia remains significant, even amidst geopolitical shifts. In 2024, the total trade in goods between the two blocs was valued at €67.5 billion. This figure is broken down into €35.9 billion in imports from Russia to the EU and €31.5 billion in exports from the EU to Russia. Additionally, the trade in services was estimated at €17.2 billion in 2023.
A key component of this trade is Liquefied Natural Gas (LNG). European imports of Russian LNG set a new record in 2024, reaching 16.5 million tonnes. This surpassed the previous record of 15.21 million tonnes from 2022.
The trade relationship encompasses a diverse range of goods beyond energy. The tables below detail the primary categories of goods traded in 2024.
Table 1: Top EU Imports from Russia by Value (2024)
| Commodity Group | Value (€ Billions) | |
| Mineral Fuels | 22.3 | |
| Chemicals | 2.8 | |
| Iron and Steel | 2.6 | |
| Fertilisers | 1.67 | |
| Sources: European Commission, Trading Economics |
Table 2: Top EU Exports to Russia by Value (2024)
| Commodity Group | Value (€ Billions) |
| Chemicals | 13.7 |
| Food and Raw Materials | 5.9 |
| Machinery and Transport Equipment | 4.1 |
| Source: European Commission |