Sani bin Ahmed ez-Zeyudi, Minister of State for Foreign Trade of the United Arab Emirates (UAE), announced that there was a 57 percent increase in the first 9 months of 2022. He announced that the trade volume between the UAE and Russia reached 5.5 billion dollars with this ratio reached by non-oil trade.
The trade volume of the UAE with Russia in the sanction clamp has been announced
At a time when Western countries imposed economic sanctions on Russia due to the ongoing war in Ukraine, the increase in trade between this country and the UAE drew attention.
In a statement on his Twitter account, UAE Minister Zeyudi stated that he met with President of Tatarstan Rustam Minnihanov in Dubai.
Trade volume reached 5.5 billion dollars
Zeyudi stated that they discussed ways to improve cooperation between the two countries during the meeting.
Stating that the non-oil trade volume reached 5.5 billion dollars in the first 9 months of 2022, Minister Zeyudi did not give information about the trade volume in the same period of last year.
According to official data, over 4,000 Russian companies operate in the UAE market, which is considered Russia’s largest Gulf trade partner, while the UAE invests in 60 projects in Russia.