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Russian-Spanish trade turnover drops three-fold in the wake of sanctions

Russian-Spanish trade turnover drops three-fold in the wake of sanctions

MADRID, Feb 10: The trade turnover between Russia and Spain has dropped three-fold after the European Union imposed restrictive measures against Russia, Russian Ambassador to Spain Yuri Korchagin told reporters, reports AFP. “Prior to 2014, our trade turnover reached ?11 bln,” the diplomat said. “According to the data provided by the Spanish customs service, it was approaching ? 15 bln. After the EU imposed its anti-Russian restrictions the trade turnover dropped nearly three- fold.” “Nevertheless, we have seen an increase in the trade turnover over the past two years,” Korchagin went on to say. “In 2018, it grew 6% to reach ?5.6 bln, but this is incomparable with the previous figures.” “Last year, the implementation of the major project to supply Russian LNG to Spain began,” the diplomat stressed. “I believe this likewise contributes to the growth of the trade turnover to some extent.” According to the ambassador, relations between the two countries began 500 years ago. “The first full- fledged Russian embassy arrived in Spain 350 years ago. Throughout the centuries, our contacts and dialogue have been marked by intensity, mutual respect and interest in each other regardless of what government was in power in Spain,” Korchagin stressed. He added that the new government led by the Spanish Socialist Workers’ Party, which came to power last June, “immediately showed interest in maintaining and even intensifying bilateral relations.” “A phone call initiated by Madrid between Spanish Prime Minister Pedro Sanchez and Russian President Vladimir Putin has been held,” the ambassador said. “During the conversation, both parties reaffirmed their commitment to cultivating bilateral ties,” he said. “This year, some Spanish ministers received invitations to attend international forums scheduled to be held in Russia,” the diplomat pointed out. “In addition to that, we are planning a series of consultations at the deputy foreign ministers’ level, which will be held in Moscow and Madrid alternately,” Korchagin added.

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