Russia’s deliveries to Sweden recorded the sharpest drop among EU economies, marking a dramatic shift in trade patterns after sanctions were put in place. A year into the measures, the value of goods moving from Russia to Sweden declined by an estimated 90 percent, a statistic drawn from the Swedish Foreign Trade Agency, known as Kommerskollegium, and based on Eurostat figures. This substantial contraction stands in contrast to a relatively modest overall European decrease in the same period, which hovered around 5 percent.
Between March 2022 and February 2023, Sweden’s imports from Russia fell by roughly ninety percent when compared with the prior year’s same interval. In stark contrast, most other European economies did not experience such a steep reduction, with the broader bloc showing only a small dip. The data highlights the unusually rapid retrenchment of Swedish-Russian trade in the wake of the sanctions regime.
Industry observers note that if the current trajectory persists, supply chains could face further disruption. Analysts point to the possibility that imports of energy-rich commodities and other essential goods from Russia might lag or stall altogether if sanctions remain in force and economic pressures deepen. Conversely, several member states, notably Slovenia, Cyprus, and Hungary, reported increased purchases from Russia during the same window. In these cases, imports have surpassed the previous year’s level, with a notable focus on oil and gas products according to the agency’s assessments.
At the end of March, Swedish Prime Minister Ulf Kristersson signaled that the European Union was not actively considering new sanctions against Russia at that moment. This stance followed discussions among member state leaders about the durability and effectiveness of existing measures.
Earlier, Swedish Finance Minister Elisabeth Svantesson indicated that the EU had not fully quantified the broader economic impact of the sanctions on Russia, acknowledging the complexity of tracing effects across sectors and time. These statements reflect ongoing debates within the bloc about how best to calibrate policy in response to evolving economic conditions and Russia’s trade adjustments.