German Imports From Russia Fall 96% in First Half of 2026
- German imports of Russian goods fell by 96.4 percent in the first half of 2026 compared to the same period in 2021, dropping to €500 million from €15...
- Bilateral trade between Berlin and Moscow has contracted sharply across multiple sectors over the past five years.
- Despite the steep overall reduction in commerce, select commercial exchanges persist.
German imports of Russian goods fell by 96.4 percent in the first half of 2026 compared to the same period in 2021, dropping to €500 million from €15 billion, according to data from the Federal Statistical Office of Germany and reported by Deutsche Welle. The dramatic contraction marks a near-total collapse in bilateral purchasing power driven by the cessation of Russian pipeline gas deliveries and European Union bans on most Russian oil imports following Moscow’s full-scale invasion of Ukraine in 2022.
German Imports Drop 96 Percent While Exports Continue at Lower Volume
Bilateral trade between Berlin and Moscow has contracted sharply across multiple sectors over the past five years. Yahoo Finance reported that the number of Russian-controlled companies operating in Germany dropped from 229 in 2021 to just 76 in 2024, with their revenues shrinking from €25.4 billion to €8.4 billion over the same timeframe. German corporate presence inside Russia also saw a major retreat, as Bundesbank figures show the number of active German firms fell from 481 generating €38 billion in 2021 down to 290 firms generating roughly €13 billion in revenue by 2024.
Despite the steep overall reduction in commerce, select commercial exchanges persist. German exports to Russia reached €3.4 billion in the first six months of 2026, united24media.com reported. While that figure sits at approximately one-quarter of the volume recorded during the same period in 2021, it remains nearly seven times the total value of German imports arriving from Russia.
Pharmaceutical Exports and Exemptions Under Sanctions Regimes
Pharmaceutical products formed the largest share of continuing trade, accounting for more than 40 percent of all German exports sent to Russia in the first half of 2026, according to united24media.com. Yahoo Finance put that precise share at 42.4 percent. German companies also continued shipping machinery, industrial equipment, food products, and animal feed to Russia, though in much smaller quantities than before the war.
These outbound shipments continue largely because medicines and agricultural goods remain exempt from most European Union sanctions. At the same time, financial transactions face increasing friction. Several German banks have frozen or restricted accounts belonging to Russian citizens and dual nationals, citing compliance mandates and money laundering controls, with some long-term residents required to submit additional proof of residency or citizenship.
Critical Raw Materials Open Europe-Wide Sanctions Debate
While consumer goods and energy imports plummeted, Investigate Europe reported that European countries continued importing billions of euros worth of critical raw materials from Russia. Between the start of the invasion and July 2023, EU member states imported €13.7 billion in critical commodities, including titanium and nickel used in aerospace, electronics, and green technology manufacturing. The European Policy Centre estimated that up to 90 percent of certain nickel types used across Europe come from Russian suppliers.
Investigate Europe noted a divergence between EU policy and actions taken by Western allies. The United Kingdom and the United States placed direct restrictions on Russian mining giants and metals such as copper, aluminum, and nickel. Meanwhile, companies such as Airbus continued purchasing titanium from Vsmpo-Avisma, a major producer part-owned by Russia’s state-owned Rostec defense conglomerate, even as the firm’s leadership faced European sanctions.
Why are critical raw materials not banned? Because they are critical, right. Let’s be honest, David O’Sullivan, European Union special envoy for sanctions
Unresolved Compliance Questions and Future Trade Trajectories
Questions remain regarding how European regulators will close remaining supply chain gaps as the European Union implements its Critical Raw Materials Act to achieve climate neutrality targets by 2050. While customs filings from Vsmpo-Avisma stopped identifying specific European buyers starting in March 2023, trade data indicates that metal shipments into member states like France experienced only slight decreases.
It remains unclear whether Berlin or Brussels will introduce stricter controls on raw material imports that currently bypass restrictive measures, or if financial compliance pressures on Russian nationals and remaining corporate entities inside Germany will tighten further as banking institutions navigate evolving sanctions enforcement.