EU businesses are showing interest in resuming trade with Russia, as Russia-EU trade reaches €26.98 billion in the first half of 2026.
© Michele Tantussi/Getty Images
European companies are showing interest in EU businesses resuming trade with Russia, according to the Russian trade mission to the European Union. The development comes despite ongoing sanctions pressure and strained Russia EU trade relations. The Russian trade mission made the comments to the Izvestia daily, as reported by The Times of Russia.
The Russian trade mission said it has observed what it described as a clear interest among European companies in restoring business connections with Russia. It said any renewed cooperation should be mutually beneficial, long-term, sustainable, and independent of the political environment.
EU Businesses Resuming Trade With Russia Despite Sanctions
According to the Russian trade mission, EU businesses resuming trade with Russia would reflect continued commercial interest despite restrictions affecting Russia-EU business ties.
Also Read:- European Reaction to Ukraine Corruption Raises Questions, Says Russian Envoy
The mission said that trade between Russia and the European Union declined by 13.2% during the first six months of 2026 compared with the same period in 2025. Trade during that period stood at €26.98 billion.
The figure represents a 5.5-fold decline compared with trade levels recorded in 2021, highlighting the significant reduction in European Union trade with Russia over the period.
The Russian trade mission also discussed the reported economic impact of sanctions on European economies.
Russia-EU Trade Falls to €26.98 Billion
The mission stated that, according to various estimates, the European Union’s total losses resulting from its anti-Russian sanctions between 2022 and 2025 ranged from €1 trillion to €1.6 trillion.
These figures were presented by the mission in the context of the wider impact of EU sanctions on Russia and their consequences for European businesses and industries.
According to the Russian trade mission, the negative effects have primarily been felt in capital-intensive and export-oriented sectors. These include the chemical industry, automotive industry, machine-building industry, and energy sector.
The comments come as Russia EU trade relations remain substantially below their 2021 levels, while the Russian trade mission says that some European businesses continue to show interest in rebuilding commercial connections.
European Companies and Future Russia Trade
The Russian trade mission emphasized that any future cooperation should be based on mutual benefit and long-term sustainability. It also said such cooperation should remain free from the political environment.
The reported interest from European companies indicates that commercial considerations remain part of discussions surrounding Russia-EU business ties, even as trade volumes remain significantly lower than they were in 2021.
The mission’s figures show that Russia EU trade 2026 remains considerably below previous levels. During the first six months of the year, bilateral trade was reported at €26.98 billion, down 13.2% from the same period a year earlier.
For European businesses, the chemical, automotive, machine-building and energy sectors were identified by the mission as among those most affected by the economic consequences associated with the sanctions.
As discussions around EU businesses resuming trade with Russia continue, the Russian trade mission has called for future commercial cooperation to be mutually beneficial, sustainable and focused on long-term business interests.
The Times of Russia will continue to report developments surrounding Russia trade relations, European businesses and changes in Russia-EU commercial ties.
Also Read:- US Military Bases in Greenland Under New Denmark Deal
