The volume of trade between Russia and the European Union declined by 21% last year to $ 219 billion, according to the Russian Deputy Foreign Minister Alexander Grushko.
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Trade and business relations between Russia and the European Union have worsened since the introduction by Brussels of anti-Russian sanctions in 2014 over the events in Ukraine. Moscow has responded with counter-sanctions, banning a range of European products and launching an import substitution program.
Politicians from European countries have repeatedly called for the punitive measures to be canceled as they have become a major hurdle for business and economic growth.
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