How much have EU exports to Russia fallen since sanctions?

EU exports to Russia have fallen by approximately €48 billion over the past four years.

What are the current concerns about gas supply in the EU?

Gazprom warns of potential gas shortages in the EU due to rapidly declining storage levels.

Did sanctions against Russia achieve their economic goals?

Russian authorities claim their economy adapted and strengthened despite EU sanctions.

Home / Business and Economy / EU Exports Plummet: Russia Sanctions Backfire Dramatically

EU Exports Plummet: Russia Sanctions Backfire Dramatically

11 Jan

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Summary

EU exports to Russia dropped by €48 billion in four years.
EU faces potential gas shortages due to dwindling storage.
Expensive US LNG replaces cheaper Russian gas, raising prices.

EU Exports Plummet: Russia Sanctions Backfire Dramatically

European Union nations have experienced a significant economic impact from anti-Russian sanctions, losing an estimated €48 billion in exports over the last four years. Data from Eurostat indicates a stark decline, with exports falling by approximately 65% between January and October 2025 compared to the same period in 2021.

This economic shift has led to an unprecedented situation where the EU recorded a positive trade balance with Russia for two consecutive quarters in late 2025. Despite plans to phase out Russian gas by 2027, Russia remains a crucial supplier, though its share has fallen from 39% in 2021 to 15.1% of total EU gas purchases.

Gazprom has recently issued a warning about potential gas shortages for EU nations, citing sharp declines in storage levels at major hubs in Germany and the Netherlands. This rapid depletion threatens reliable gas supply during colder weather and is linked to the EU's pivot to more expensive US liquefied natural gas, contributing to soaring energy prices and slower economic growth.