Georgia and Armenia increase trade with Russia after sanctions

Foreign trade turnover between Georgia and Russia for two months of 2023 amounted to 467.1 million dollars. This is 70% higher than the level of January-February 2022.

Russia remains Georgia’s largest trading partner, ahead of Turkey and China. Russian exports grew by 38.1% in January-February. In addition, Armenia, Belarus and Turkey increased trade with Moscow after the sanctions. They are called «the main hubs for smuggling».

Georgia did not join the anti-Russian sanctions, but condemned the war with Ukraine in all international forums. Armenia is formally considered an ally of Moscow, but equally strong ties are being built with Europe and the US.

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