Gas imports from Moscow drop by 58%. On the basis of Bankitalia’s seasonally adjusted estimates, Italian exports of goods to Russia also decreased significantly in the two months following the military aggression of Ukraine, only to recover partially, in line with the trend of international trade with that country. This was revealed by the Institute’s Economic Bulletin.
On the other hand, between March and August, Italian imports from Russia, again in value and net of seasonality, grew without interruption (by more than one fifth compared to the previous half-year), driven by the increase in the prices of energy products.
Different speech for energy. Russia’s share of Italy’s total energy imports fell to 18.7 per cent in July, from 22.1 per cent last year as a whole, in favor of those of the United States, Norway, Azerbaijan and Algeria.
According to Snam data on imported quantities of natural gas, between March and mid-October purchases from Russia decreased by 58 percent compared to the same period in 2021 (against an increase of over a quarter of imports of liquefied natural gas from other providers).