EU bans plastic imports worth nearly $1B from Russia

The EU, within the eighth package of sanctions against Russia, has banned from next year the import of primary polymers and products made from them (plastics): plates, sheets, films, tapes, pipes, hoses, etc., Report informs citing RBC.

According to the UN Comtrade database, which aggregates detailed global trade statistics, in 2021 Russia supplied these materials to Europe for a total of $948 million (an average of $80 million per month).

Polymers accounted for the most with $327 million, followed by plastic plates, sheets, films and tapes ($109 million). In 2022, supplies began to decline: according to data for June (the latest from the Comtrade database), Russian companies sold such goods to the EU for about $59 million.

In accordance with the new European sanctions, the export of such products can continue until January 8, 2023 under contracts concluded until October 7, 2022.