Economy 02-11-2018

Russian Ambassador expects Russian-Spanish trade volume to exceed 6,000 million euros in 2018

The volume of trade between Russia and Spain can exceed 6,000 million euros, Sputnik told the Russian ambassador in Madrid, Yuri Korchaguin.

"Bilateral trade has maintained a growth trend for two years now, I believe that by the end of this year it will surpass 6,000 million [euros]," he said.

He indicated that the trade and economic relations of the two countries continue despite the sanctions imposed on Russia by the EU.

Korchaguin affirmed that before the introduction of sanctions the commercial exchange of Russia and Spain reached the 11,000 million Euros, according to the Russian statistics, and more than 15,000 million, according to the Spaniards, nevertheless, this index diminished until some 5,000 million Euros after the reciprocal restrictions were applied in 2014.

"Of course, the Spanish exporters of fruit and vegetables were dismayed at first because the decisions of Brussels turned against them, since only in the years 2014-2015 they lost 785 million euros," said the Russian diplomat.

At the same time, he stressed that it is unlikely that they will be able to recover their previous position because Russia actively developed its agricultural sector in recent years and "foreign companies will have to find new formulas, new areas for trade".

Korchaguin also recalled that this year Russia began to supply Spain with its gas from the Yamal Peninsula, in northwest Siberia, adding that it is "a favorable and very important project that satisfies both parties."

According to the document signed five years ago, Russia will send 3,000 million cubic meters of gas to Spain in 24 years, until 2041.

On November 6, the King of Spain, Felipe VI, will receive the Foreign Minister of Russia, Sergey Lavrov, during his visit to Spain.

In addition, the Russian chancellor is expected to meet with his Spanish counterpart, Josep Borrell.


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