The European Union remained one of Russia's top three trading partners in 2024 despite heavy sanctions. According to data from the German Economic Institute (Institut der deutschen Wirtschaft – IW), Russia's total trade volume with its top 20 trading partners increased by 18 per cent to reach $330 billion. The report, as reported by the Bild newspaper, stated that the European Union ranked third after China and India, with the trade volume between the two sides reaching 67.5 billion euros.
However, the sanctions fundamentally changed the structure of trade. Germany maintained its trade volume at 9.5 billion dollars despite reducing its imports from Russia by 92 per cent. France and the Netherlands hovered around 6 billion dollars, while Hungary saw an exceptional increase, raising its imports by 31 per cent to 6.2 billion dollars. In contrast, trade volumes in countries such as the Czech Republic, Slovakia, Belgium, Spain and Italy declined significantly compared to pre-2021 levels.
China remains Russia's largest trading partner. According to IW calculations, China became Moscow's main export market in 2024, purchasing $130 billion worth of Russian oil, gas and coal. The total trade volume between the two countries reached $244.8 billion. India ranked second with an increase in energy imports. The report also highlighted that trade volume with countries such as Israel, Egypt, Brazil and Uzbekistan grew rapidly in the post-war period.
Turkey's position changed significantly over the period. Turkey, which was Russia's sixth largest trading partner in 2021, rose rapidly after Western sanctions and entered the top five in 2024. According to Federal Customs Service data, Turkey accounted for 8.3 per cent of Russia's total trade volume in the January–October 2024 period. In 2022–2023, Turkish ports and the financial system became an indirect route for Russian exports to Europe. Turkey's role strengthened both as an energy importer and as one of Russia's ‘parallel import’ channels. While Moscow increased its exports of natural gas, coal and grain to Turkey, shipments of food, machinery, white goods, automotive parts and textile products from Ankara to Russia expanded. By the end of 2023, the Russia-Turkey trade volume reached a historic level of around $60 billion.
In the first half of 2025, Russia's exports fell by 6 per cent to $195.5 billion, while imports rose by 1 per cent to $131.6 billion. However, trade with countries such as Turkey, Iran, Egypt and Indonesia continued to grow. According to the Russian Central Bank, the country's exports amounted to $433.6 billion and imports to $301.5 billion in 2024. The Kremlin described Western sanctions as ‘illegal,’ while Vladimir Putin argued that ‘the real damage is being done to European countries.’ In contrast, countries that did not participate in the sanctions, such as Turkey, became strategic economic partners for Moscow, permanently shifting the direction of Russian foreign trade towards Asian and Southern markets.