India’s Ministry of External Affairs on August 4 exposed the double standards adopted by United States of America and European Union vis- a-vis their trade relations with Russia. India termed tariffs and Penalties unjust and unreasonable as US and EU continued their import export with Russia even during Ukraine war while targeting India for its oil imported from Russia. Leave aside US and EU, even Ukraine did the trade with Russia during war! Before, I read MEA statement, lets have a look at US trade with Russia from the time Ukriane war started!
Shailesh Kumar, National Defence
New Delhi, 05 August 2025
The full scale war between Russia and Ukraine broke out on 24 February 2022. US, European Union have shamelessly been trading with Russia during most part of the war.
In 2022, U.S. Trade with Russia was around $20.2 billion that included $4.5 billion exports and $15.7 billion imports with a trade deficit of about $11.2 billion.
In 2024, total U.S. trade with Russia came down to about $3.5 billion including $526.1 million exports and $3.0 billion imports with trade deficit of about $2.5 billion.
Before the ban over Ukraine war, the U.S. net monthly imports from Russia averaged around 585,000 barrels/day in Feb 2022, and about 575,000 bpd in March. After the ban, n October 2022, 36,800 barrels and in November 2022, 9,900 barrels of Russian crude were imported—under special OFAC licenses—valued at around $2.7 million and $750,000 respectively.
MEA India’s statement says and I quite “Where the United States is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilizers as well as chemicals”.
National Defence brings you a more detailed break up of US imports from Russia while Ukraine war was ongoing.
During the 2025 summer, Russian export-import data shows that over 210 metric tonnes of uranium hexafluoride were imported into the U.S.:
In 2024, U.S. imports of enriched uranium from Russia was about 335 ton, valued at approximately $624 million.
According to Moscow times, For 2023, U.S. nuclear power operators imported 701+ metric tons of enriched uranium from Russia, valued at about $1.2 billion—though this figure refers to enriched uranium, not solely uranium hexafluoride- UF₆.
If we talk about U.S. Palladium Imports from Russia, In 2022, The United States imported approximately 20.4 metric tonnes of unwrought palladium or powder from Russia, valued at $1.354 billion. This accounted for roughly 34% of all palladium imports that year. As Ukraine war was progressing, next year in 2023 the imports from Russia rose to about 23.8 metric tonnes, valued at $1.0798 billion- US imported more but cheaper. Interestingly Russia remained the single largest supplier to the U.S., ahead of South Africa.
U.S. total imports from Russia in the category including “inorganic chemicals, precious metal compounds”, which also covers palladium were valued at $695.7 million in 2024.
MEA in its statement said that and I quote, “India has been targeted by the United States and the European Union for importing oil from Russia after the commencement of the Ukraine conflict. In fact, India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. The United States at that time actively encouraged such imports by India for strengthening global energy markets stability.
India’s imports are meant to ensure predictable and affordable energy costs to the Indian consumer. They are a necessity compelled by global market situation. However, it is revealing that the very nations criticizing India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion.
The European Union in 2024 had a bilateral trade of Euro 67.5 billion in goods with Russia. In addition, it had trade in services estimated at Euro 17.2 billion in 2023. This is significantly more than India’s total trade with Russia that year or subsequently. European imports of LNG in 2024, in fact, reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022.
Europe-Russia trade includes not just energy, but also fertilizers, mining products, chemicals, iron and steel and machinery and transport equipment.
Before I tell you Ukraine Trade with Russia, let me give you further break of EU- Russia trade-
Russia’s Trade with European Union in 2024 was estimated at €67.5 billion. This included €36.0 billion imports into the EU from Russia. EU exports to Russia totaled roughly €31.5.
If we talk about Russian Energy exports to EU then in 2023, Russia supplied approximately 15% of the EU’s total gas, 14.9 million tonnes of Russian LNG.
In 2024, Russia supplied approximately 31.6 billion cubic meters (bcm) of pipeline gas to the EU. And the same year, EU imports of Russian LNG soared to a record 16.5–17.5 million tonnes.
Russian energy still accounts for approximately 13% of the EU’s total gas imports in 2025. In early 2025, EU countries imported 837,300 metric tons of Russian LNG in just the first 15 days of January.
You would be wondering that US, EU wants India not to trade with Russia but you will be surprisingly that in 2024 Ukraine exported small volumes of steel to Russia—about 26,871 tonnes that was valued at $21 million.
Trump wants to re-balance the geo-politics through tariffs but in May 2025, the U.S. Court of International Trade ruled that these tariffs exceeded the legal authority afforded under IEEPA. The court invalidated the “Liberation Day” tariffs, finding that routine trade imbalances don’t meet the statute’s “unusual and extraordinary threat” threshold, and represents executive overreach into policy reserved for Congress. The case is still sub judice.
Trump earlier, invoked the International Emergency Economic Powers Act (IEEPA) and the National Emergencies Act, declaring trade and energy dependency on Russia as threats warranting emergency tariffs.
Ministry of External Affairs says that in this background, the targeting of India is unjustified and unreasonable. Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.
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