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Russia, UK trade shows growth for 1st time in 3 years: Russia’s Trade Rep

Russia, UK trade shows growth for 1st time in 3 years: Russia’s Trade Rep

MOSCOW:Russia’s trade representative in the United Kingdom Boris Abramov told Sputnik in an interview that Russia-UK trade has grown this year for the first time since 2014, increasing by 25 percent year-over-year for the first nine months of 2017 to $9.3 billion.There are currently preconditions, not only for the further expansion of business activity between the two countries, but also for its diversification, primarily in the non-oil and gas sectors, according to Abramov.

The trade turnover between Russia and the United Kingdom has been affected by the international sanctions imposed on Moscow following the outbreak of the Ukrainian crisis in 2014. Moscow has repeatedly refuted the West’s accusations of meddling in the conflict and introduced a food embargo on those countries which resorted to restrictive measures against it.