For decades, the trade relationship between the United States and Russia has hovered between strategic necessity and political tension. While historical ties included substantial energy, metals, and defense-related materials, today trade flows face fierce sanctions, restrictions, and geopolitical pushback.
In this article, you will learn the current state of U.S.–Russia trade, major export and import categories, the influence of sanctions, trends over time, and what the future may hold in this fraught relationship in this article.
U.S.–Russia Trade Status
Current Trade Volumes
Despite restrictions, limited trade still occurs. In recent years, U.S. imports from Russia have dropped significantly, largely due to sanctions targeting energy and raw materials. The United States continues to export select goods to Russia, but those flows are constrained and often subject to licensing. According to external sources, imports from Russia dropped to less than a fraction of early 2010s values, and in many months Russian goods scarcely appear in U.S. customs data.
Major U.S. Imports from Russia
The goods that America historically imported from Russia include:
- Crude oil, petroleum products, and natural gas
- Aluminum, nickel, and other metals
- Chemicals and fertilizers
- Precious metals and diamonds
Because energy and raw materials constituted much of Russia’s export value, U.S. access to those goods has been tightly limited by sanctions. Many energy transactions were cut off after Russia’s actions in Ukraine, reducing imports to near zero for certain categories.
Major U.S. Exports to Russia
U.S. exports to Russia are more modest and include:
- Agricultural products (soybeans, wheat, corn)
- Machinery and equipment
- Pharmaceuticals and medical supplies
- Aerospace components
These exports are hampered by licensing regimes, export controls, and restrictions related to dual‐use technologies. Even when trade is legally permitted, logistical and banking barriers often make it impractical.
Sanctions and Legal Barriers
The biggest factor shaping U.S.–Russia trade is sanctions. The U.S. government maintains wide-ranging prohibitions on transactions with Russia, especially for technology, finance, energy, and military‐relevant goods. Many U.S. firms cannot export certain categories at all. Some trade that might technically be allowable still stalls due to banks refusing transactions or shipping insurers declining coverage.
Trade Partner Rankings: Russia’s Standing
Russia used to rank among the top 20 U.S. trading partners by value. But because of the sanctions and decreasing trade flows, it has slipped in the rankings. The U.S. now trades far more with nations like China, Canada, Mexico, Japan, and the European Union. In recent lists of largest U.S. trade partners, Russia often falls outside the top 20 entirely, reflecting its diminished role.
Trends Across Time
From 2010 to 2014, U.S.–Russia trade saw steady growth, especially in energy and metals. After 2014, following Crimea’s annexation and subsequent sanctions, trade started declining. The decline accelerated sharply after Russia’s invasion of Ukraine in 2022, which provoked far broader sanctions and supply chain disruptions. Year to year, bilateral trade value has fallen by a large percentage—often by a majority—compared to its peak.
As of recent data, total U.S. imports from Russia account for less than 1 percent of U.S. import volume. Exports to Russia make up even less of America’s export portfolio. Russia is no longer a core trade partner in current U.S. economics.
Why Trade Still Exists (Limited as It Is)
Some trade continues for reasons such as:
- Legacy contracts predating sanctions
- Exports of food, medical products, or humanitarian goods under exemptions
- Re-exports via third countries or indirect routes
- Minimal shipments that comply with licensing
But these are niche, limited, and often vulnerable to sudden policy shifts.
Examples of Recent Trade Activity
- The U.S. occasionally exports wheat or soy under certain agricultural agreements with exemptions.
- Some aerospace parts with non‐military uses may receive approved licenses.
- Minimal imports of non-sanctioned metals or chemicals may still arrive in the U.S., though frequently re-routed or delayed.
Challenges That Halt Trade
Barriers that kill most trade:
- Banking restrictions: Many U.S. banks refuse to process transactions involving Russian entities.
- Shipping and insurance: Vessels hesitate to sail to or from Russian ports under risk of sanctions.
- Licensing and export controls: The approval process is stringent and often denied.
- Political and reputational risk: Companies fear backlash or penalties for trading with Russia.
These create effective trade dead zones even where legal frameworks allow modest exchange.
Implications for U.S. Economy
Because Russia never comprised a large share of U.S. trade compared to Canada or China, the economic blow is modest domestically. The effect concentrates in sectors reliant on particular metals or energy inputs. Some U.S. firms lose prospective sales due to sanctions, but many also view the constraints as a signal to diversify markets.
Strategic Considerations
From a national-security angle, limiting trade with Russia is often intentional—to deny Russia income, technological access, or strategic leverage. Many policymakers consider the decline in trade as a tool in broader diplomatic or military pressure.
At the same time, overly broad restrictions may hurt U.S. firms that once had business in Russia. Some industry watchers argue for more surgical bans and clearer licensing to reduce collateral damage.
Trade Comparisons: U.S. vs Russia’s Top Partners
While the U.S. now treats Russia as a minor partner, Russia trades heavily with China, the EU, and key energy consumers. These partnerships give Russia alternative markets, lessening U.S. leverage somewhat. Meanwhile, America’s biggest trade partners—Canada, Mexico, China—play roles that vastly overshadow Russia in trade volume.
Possible Futures
Trade between the U.S. and Russia might further shrivel. Unless major geopolitical shifts occur, most categories will remain off-limits. But some scenarios:
- Relaxed sanctions: Should diplomacy ease tensions, some trade channels might reopen.
- Targeted normalization: Trade may restart in non-strategic goods only, like agricultural products or humanitarian supplies.
- Continued isolation: Russia shifts deeper into trade with Eurasian neighbors; U.S. firms write off the relationship.
Advice for U.S. Businesses
- Stay current on export control lists and sanctions updates.
- Seek legal counsel before attempting any Russia‐bound trade.
- Diversify markets to reduce dependence on any risky destination.
- Carefully document compliance and maintain internal safeguards.
Conclusion
Yes, technically the U.S. does still trade—at a greatly diminished scale—with Russia. But the relationship is no longer meaningful in economic magnitude. Sanctions, political risk, banking hurdles, and licensing barriers have effectively severed most trade flows.
The remaining exchanges are narrow, peripheral, and fragile. For most practical purposes, U.S.–Russia trade today amounts to bureaucratic trickles, not substantive commerce.
