Live Updates > Live Update Details
2025-09-15 16:46:48
[Undercurrents in the Energy and Chemical Industry Quietly Reshape the Global Trade Landscape] ⑴ Despite facing sanctions, trade between the United States and Europe in energy and some commodities remains substantial, reaching billions of dollars. Data shows that from the first quarter of 2022 to the second quarter of 2025, EU exports to Russia fell by 61% and imports plummeted by 89%. However, in the second quarter, the trade deficit with Russia shifted to a surplus, reaching €80 million. ⑵ In the energy sector, Russian crude oil's share of EU imports has fallen from 28.74% in 2021 to 2.01% since 2025, and its share of natural gas has also shrunk from 48% to 12%. However, some EU countries still import natural gas through Turkey, and EU imports of Russian liquefied natural gas (LNG) increased significantly between the first quarter of 2021 and the first quarter of 2022 due to rising prices. Although its share has fallen to 14%, the United States has become the EU's largest supplier of LNG, accounting for 54%. ⑶ In terms of non-energy commodities, the EU's share of iron and steel imports from Russia has fallen from 18% four years ago to 6% in the second quarter of 2025. However, Russia's position in the EU fertilizer export market remains solid, with its share increasing from 28% to 34%. Although the European Parliament has voted to gradually impose high tariffs, the short-term impact is difficult to assess. (4) US trade with Russia has also shrunk significantly, with imports falling to $2.5 billion in the first half of 2025, significantly lower than the $14.14 billion four years ago. Despite this, US fertilizer imports from Russia in 2024 will still reach $1.27 billion, a year-on-year increase. Imports of Russian-produced enriched uranium and palladium, while declining, will remain in the hundreds of millions of dollars. (5) Market concerns sparked by Trump's tariff rhetoric, coupled with international considerations regarding energy and key commodity supply chains, indicate that the reshaping of global trade rules and partnerships is still ongoing, potentially impacting market sentiment in a complex manner.
