FX.co ★ U.S. export sales to Russia hit record despite sanctions

The U.S. efforts to put pressure on Russia though the sanctions proved to be inefficient and did not affect U.S. exports sales, the Wall Street Journal reported referring to the U.S. Commerce Department’s survey.
According to the latest data, the export sales to Russia hit the new record of $1.2 billion. Besides, the export volume grew by a whopping 21% in May 2014 compared to April.
Meanwhile, the U.S. export sales to Europe rose 4% whereas shipments to China edged up 2%.
It should be reminded that on March 17, the U.S. decided to impose sanctions regarding Russia’s policymakers. Moreover, the EU foreign ministers reached an accord to introduce sanctions against Russia’s and Ukraine’s high-ranking officials whom they consider to be guilty of “undermining the territorial integrity of Ukraine.” Afterwards, the U.S. blacklist was supplemented with 20 more Russian civil servants, entrepreneurs, and members of the parliament. The sanction list of the EU was also updated.