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According to the U.S. Census Bureau, between January and May 2025, U.S. exports to Russia totalled approximately $231.7 million, while imports from Russia reached $2.091 billion
Despite sanctions, the U.S. continues to import some strategic materials from Russia. (AP File)
US President Donald Trump on Thursday imposed a 25% tariff on India as part of a sweeping trade action targeting nearly 70 countries, according to an executive order released by the White House. On social media platform Truth Social, Trump criticised India over its trade policies and close ties with Russia. Declaring that the US had a “massive trade deficit” with India, Trump said: “India is our friend, but we have done relatively little business with them because their tariffs are far too high, among the highest in the world, and they have the most strenuous and obnoxious non-monetary trade barriers of any country.”
He also attacked India for buying Russian military equipment and energy, saying: “They have always bought a vast majority of their military equipment from Russia and are Russia’s largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine – all things not good! India will therefore be paying a tariff of 25% plus a penalty for the above, starting on August 1…MAGA!”
Even as Trump imposes the “penalty” for business with Russia, how much trade does the US do with Moscow?
What did the US say about India-Russia trade ties?
Russia over the years has been selling crude oil to India at a discount – which has resulted in New Delhi saving billions. Secretary of State Marco Rubio slammed India, saying that New Delhi buying oil from Moscow was funding its Ukraine war.
Rubio’s remarks came after Trump earlier took to social media to slam India and Russia, saying they “can take their dead economies down together”. “I don’t care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their tariffs are too high, among the highest in the world. Likewise, Russia and the USA do almost no business together. Let’s keep it that way,” Trump wrote on his Truth Social platform.
Trump added that India has “always bought a vast majority of their military equipment from Russia”. They “are Russia’s largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine”, he added.
How much trade does US do with Russia?
On the decline…
In 2024, the total value of U.S.–Russia goods trade was estimated at $3.5 billion, according to the Office of the United States Trade Representative (USTR). This marked a significant decline from 2023, largely due to heightened sanctions and ongoing geopolitical tensions. U.S. goods exports to Russia fell by 12.3%, totaling $526.1 million, a decrease of approximately $73.5 million compared to the previous year. U.S. imports from Russia dropped even more sharply—down 34.2% to $3.0 billion, a fall of around $1.6 billion. As a result, the U.S. trade deficit with Russia decreased by 37.5%, amounting to $2.5 billion, which was $1.5 billion less than the deficit in 2023.
The decline in U.S.–Russia trade has been consistent since Russia’s 2022 invasion of Ukraine. In 2023, the U.S. exported around $599 million worth of goods to Russia and imported $4.57 billion, resulting in a $3.97 billion trade deficit. In 2024, this deficit narrowed significantly due to falling imports. Data from the U.S. Census Bureau also shows that by the first five months of 2025, total U.S. imports from Russia were down to $2.1 billion, while exports stood at $232 million.
On a sectoral level, U.S. exports to Russia in 2024 were minimal and highly fragmented. The top categories included printed books, live animals, fruits and nuts, aircraft parts, ceramic goods, and dairy products. Most of these were valued under $200,000 per category, reflecting the impact of sanctions and export restrictions. U.S. companies are largely unable to engage in significant trade with Russia in areas such as high-tech, energy, defense-related goods, and dual-use technologies.
But not fully shut…
However, despite sanctions, the U.S. continues to import some strategic materials from Russia. These include enriched uranium (valued at about $596 million in early 2025) and palladium (around $502 million), both of which are essential for nuclear power and catalytic converters, respectively. These items are exempt from full sanctions due to a lack of alternative global suppliers and national security considerations.
US-Russia numbers at a glance
According to the United States Trade Representative, U.S. total goods trade with Russia were an estimated $3.5 billion in 2024.
- U.S. goods exports to Russia in 2024 were $526.1 million, down 12.3 percent ($73.5 million) from 2023.
- U.S. goods imports from Russia totalled $3.0 billion in 2024, down 34.2 percent ($1.6 billion) from 2023.
- The U.S. goods trade deficit with Russia was $2.5 billion in 2024, a 37.5 percent decrease ($1.5 billion) over 2023.
- In 2022, the US imported goods worth $15 billion from Russia. As of May 2025, the US’ imports from Russia were at $2.1 billion. This included imports of $196 million in January, $339 million in February, $523 million in March, $492 million in April, and $539 million in May. The US imported fertilisers, precious metals, inorganic chemicals, wood products, and some machinery from Russia.
US-Russia trade in 2025
According to the U.S. Census Bureau, between January and May 2025, U.S. exports to Russia totalled approximately $231.7 million, while imports from Russia reached $2.091 billion, resulting in a goods trade deficit of $1.859 billion during the period. These figures represent monthly trade such as January’s $34.9 million exports against $196.2 million imports, and May’s roughly $51.4 million exports versus $539.6 million imports.
#WATCH | Delhi | MEA spokesperson Randhir Jaiswal says, “Our ties with any country stand on their merit and should not be seen from the prism of a third country. As far as India-Russia relations are concerned, we have a steady and time-tested partnership.” pic.twitter.com/FBN67Lnk46— ANI (@ANI) August 1, 2025
What India said
“India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective. The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,” the Ministry of Commerce and Industry said in a statement. “The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK,” the government said.
With inputs from agencies
At the news desk for 17 years, the story of her life has revolved around finding pun, facts while reporting, on radio, heading a daily newspaper desk, teaching mass media students to now editing special copies …Read More
At the news desk for 17 years, the story of her life has revolved around finding pun, facts while reporting, on radio, heading a daily newspaper desk, teaching mass media students to now editing special copies … Read More
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