Russia is restoring imports despite Western sanctions on payment for goods – Bloomberg

The Russian Federation’s economy is restoring its import levels despite sanctions that hinder payment transactions.

This was reported by the American publication Bloomberg.

The agency notes that Russian imports in the third quarter recovered to last year’s level, driven by increased domestic demand, even though international sanctions create difficulties for conducting bank payments.

According to the Bank of Russia’s balance of payments report, the value of imported goods into Russia during this period reached $76 billion, following a year-over-year decline in the previous three quarters. As a result, imports grew by approximately 9% compared to the previous quarter.

The recovery was attributed to expanding domestic demand combined with the strengthening of the ruble during this period, as well as an increase in automobile imports, according to the central bank.

The Russian currency strengthened by 5% against the U.S. dollar compared to the previous year and by 2% compared to the second quarter of 2024.

“There has been an increase in imports into Russia from various regions of the world,” the Central Bank of Russia was quoted as saying.

Earlier, the media reported that due to U.S. sanctions, Moscow has been purchasing cash dollars through alternative routes, including in African countries.