Template-Type: ReDIF-Article 1.0
Author-Name:Knobel Alexander
Author-Name-First: Alexander 
Author-Name-Last:Knobel 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Author-Name:Firanchuk Alexander
Author-Name-First: Alexander 
Author-Name-Last:Firanchuk 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: BREXIT AND TRADE AND ECONOMIC RELATIONS BETWEEN RUSSIA AND THE UK 
Abstract: The UK’s exit from the EU can aff ect Russia primarily through an increase in volatility in the world markets and the consequent reduction in mediumterm oil prices. Impacting Russia directly through trade is less likely. First, the United Kingdom accounts for about 2% of Russia’ trade turnover. Second, Russia’s exports are mainly raw fuel (84% in 2015), which can be easily redirected to other markets; in addition, about half of these exports are gas trading. The structure of imports from UK is very similar to that from other EU countries. The impact on Russia through trade in services seems more likely, as the UK’s share in Russia’s services turnover is about 6%.
Classification-JEL:  F22, J11, J61, J62
Keywords:   Foreign Trade, Russian Industry, Russian Economy
Year: 2016
Issue:7
Month: July
Pages: 54-58
File-URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-7-691.pdf
File-Format: application/pdf
File-Function: Revised version, 2016
Handle: RePEc:gai:recdev:recdev-2016-7-691