Despite prolonged periods of conflict, the US and Europe continue to engage in multi-billion dollar trade activities with Russia.

In the wake of ongoing geopolitical tensions, the trade relations between the United States, Europe, India, and China with Russia have shown a nuanced approach, particularly in key commodities such as fertilizers, palladium, uranium, plutonium, oil, natural gas, iron and steel, nickel, and coal.

United States

The US has sharply reduced most trade with Russia, but continues to import some commodities like fertilizers, enriched uranium, plutonium, and palladium. In 2024, US imports included: - Fertilizers valued at about $1.27 billion, slightly up from four years ago. - Enriched uranium and plutonium imports decreased to $624 million in 2024 from $646 million in 2021. - Palladium imports fell significantly to $878 million in 2024 from $1.59 billion in 2021.

Overall, US imports from Russia dropped markedly to $2.5 billion in H1 2025, from $14.14 billion four years prior.

Europe

The EU continues to import significant volumes of Russian commodities, including oil, nickel, natural gas, fertilizers, iron, and steel. Russian oil remains a major import, but European imports of Russian oil have declined substantially. The EU’s imports from Russia in Q1 2025 included about 17% of its natural gas needs (LNG and pipeline gas), down from 48% in 2021. Fertilizer imports from Russia declined only slightly in share terms. Imports of Russian iron fell from 18.28% to 7.71% of the EU’s needs in the first quarter of 2025.

India

India's trade with Russia has grown rapidly, with imports rising from $8.25 billion in 2021 to $65.7 billion in 2024. The growth is dominated by Russian crude oil imports, which surged to $52.2 billion in 2024 from $2.31 billion in 2021. India also increased imports of coal products (to $3.5 billion from $1.12 billion) and fertilizers (to $1.67 billion from $483 million).

China

While explicit recent trade figures with Russia weren’t detailed in the available sources, it is noted that China is the largest importer of Russian oil and largest LNG importer, with Western tariff measures reportedly not applied equally to China. This suggests China maintains substantial trade relations with Russia in energy commodities, likely including oil, natural gas, and possibly metals, consistent with its role in the region.

Summary Table

| Commodity | US Trade with Russia | EU Trade with Russia | India Trade with Russia | China Trade with Russia | |---------------------|----------------------------------------------|-----------------------------------------------------|-----------------------------------------------------|---------------------------------------| | Oil | Minimal imports post-Ukraine war | Still significant, but declining volumes | Large growth to $52.2 billion in 2024 | Largest importer (no tariffs applied) | | Natural Gas | Very limited | ~17% of EU’s needs from Russia (down from 48%) | Not specifically detailed | Major importer | | Fertilizers | Slight increase (~$1.27 billion in 2024) | Moderate decline in share but still imports | Increased to $1.67 billion in 2024 | Not detailed | | Palladium | Declined to $878 million in 2024 | Not specified | Not specified | Not specified | | Uranium, Plutonium| Declined to $624 million in 2024 | Not specified | Not specified | Not specified | | Iron and Steel | Very limited | Imports decreased significantly in share | Not specified | Not specified | | Nickel | Reduced imports | EU continues importing nickel | Not specified | Not specified | | Coal | Not detailed | Not specified | Increased to $3.5 billion | Not specified |

In summary, India’s imports from Russia have drastically expanded, especially for crude oil, coal, and fertilizers, despite US tariffs and pressure. Europe continues to import select commodities like oil, natural gas, fertilizers, nickel, and iron but at lower levels than before the Ukraine conflict. The US has sharply reduced imports from Russia but still buys specific commodities such as fertilizers, uranium, plutonium, and palladium, albeit at reduced levels. China remains a major trader with Russia, particularly in energy commodities, with less Western pressure affecting its dealings.