A Snapshot: UK-Russia Trade Relations

By Shaan Afzal-Khan

Shaan Afzal-Khan

Expanding on our UK-Arctic Trade and Investment Observatory, we are now building a collage of all the relevant information pertaining to UK-Russia trade relations – with particular attention on the everyday relationship between the two countries – so all the information is at your fingertips. 

Period: Four quarters to the end of Q2 2021 (unless specified otherwise)

  • Rank as trading partner (goods and services):
    • 20th largest trading partner (accounting for 1.2% of total UK trade) 
    • 17th largest goods trading partner (accounting for 1.6% of UK goods trade)
    • 31st largest services trading partner (accounting for 0.6% of UK services trade) 
  • Rank as export market:
    • 26th largest export market (accounting for 0.7% of total UK exports)
    • 24th largest goods export market (accounting for 0.8% of UK goods exports)
    • 29th largest services export market (accounting for 0.6% of UK services exports) 
  • Rank of import market:
    • 17th largest import market (accounting for 1.7% of total UK imports) 
    • 12th largest goods import market (accounting for 2.1% of UK goods imports)
    • 34th largest services import market (accounting for 0.5% of UK services imports)
  • Total trade in goods and services: £14.6 billion (increase of 12.8% or £1.7 billion from previous year) 
  • Total UK exports to Russia: £4.2 billion (decrease of 7.3% or £332 million from previous year) 
  • Total UK imports from Russia: £10.4 billion (increase of 23.7% or £2 billion from previous year)
  • Outward stock of FDI (2019): £12.3 billion (0.8% of the total UK outward FDI stock)
  • Inward stock of FDI (2019): £655 million (<0.1% of the total UK inward FDI stock)

For further information, visit DIT’s Trade and Investment Factsheet for Russia

Latest News about UK-Russia Trade: 

  1. Treasury urges fund managers to pressure UK companies over Russian links (08/03/2022): https://news.sky.com/story/treasury-urges-fund-managers-to-pressure-uk-companies-over-russian-links-12560517
  2. The London Metal Exchange on Tuesday suspended the trading of nickel after prices more than doubled to surpass $100,000 per metric ton (08/03/2022): https://www.cnbc.com/2022/03/08/russia-nickel-trading-suspended-in-london-after-prices-hit-100000.html
  3. Russia’s Boardrooms Face Exodus of Western Directors (08/03/2022): https://www.wsj.com/articles/russias-boardrooms-face-exodus-of-western-directors-11646745122
  4. A growing number of high-profile Scotland-based food and drink firms have halted exports to Russia following the invasion of Ukraine (08/03/2022): https://www.bbc.co.uk/news/uk-scotland-scotland-business-60625374
  5. Premier League suspends its deal to show football matches in Russia (08/03/2022): https://news.sky.com/story/premier-league-suspends-its-deal-to-show-matches-in-russia-12560760
  6. UK set to ban Russian oil by the end of this year and focus on US and Middle East imports (08/03/2022): https://news.sky.com/story/ukraine-war-uk-set-to-ban-russian-oil-by-the-end-of-this-year-and-focus-on-us-and-middle-east-imports-12560703
  7. Economic Crime Bill: MPs back measures to speed up oligarch sanctions (08/03/2022): https://www.bbc.co.uk/news/uk-politics-60646119
  8. Surge in fertiliser prices from Russia-Ukraine war adds to pressure on UK farmers (08/03/2022): https://www.theguardian.com/business/2022/mar/08/surge-in-fertiliser-prices-adds-to-pressure-on-uk-farmers
  9. Shell sorry and pledges to stop buying Russian oil (08/03/2022): https://www.bbc.co.uk/news/business-60661611
  10. Uniqlo keeps Russian shops open as clothes a ‘necessity’ (08/03/2022): https://www.bbc.co.uk/news/business-60660006
  11. OneWeb is facing its toughest mission after loss of Russian Soyuz rockets (07/03/2022): https://www.thetimes.co.uk/article/oneweb-is-facing-its-toughest-mission-after-loss-of-russian-soyuz-rockets-s7r88g7db
  12. Foreign Minister Liz Truss states that Britain will be able to sanction hundreds of individuals on March 15 if emergency legislation is passed as scheduled (07/03/2022): https://www.reuters.com/world/uk/uk-targets-new-russia-sanctions-march-15-if-new-laws-approved-2022-03-07/
  13. Taxpayers face £3bn Bulb bill as Russian invasion sends gas prices soaring (07/03/2022): https://news.sky.com/story/taxpayers-face-3bn-bulb-bill-as-russian-invasion-sends-gas-prices-soaring-12560191
  14. Culture minister Nadine Dorries states that UK has ‘tolerated Russian kleptocrats’ in football for too long (07/03/2022): https://www.independent.co.uk/news/uk/politics/dorries-abramovich-chelsea-sanctions-ukraine-b2027716.html
  15. Fifa says foreign players can leave Russia due to Ukraine crisis (07/03/2022): https://www.bbc.co.uk/sport/football/60652298
  16. Angry dock workers in the UK are refusing to unload Russian oil due to Ukraine invasion (06/03/2022): https://www.cnbc.com/2022/03/06/ukraine-angry-dock-workers-in-the-uk-are-refusing-to-unload-russian-oil.html
  17. Visa and Mastercard suspend services in Russia in further blow to Vladimir Putin and the economy (06/03/2022): https://www.telegraph.co.uk/world-news/2022/03/06/visa-mastercard-suspend-services-russia-blow-vladimir-putin/
  18. Shell defends ‘difficult’ decision to buy Russian crude oil (06/03/2022): https://www.bbc.co.uk/news/business-60638255
  19. Accountancy giant PwC to exit Russia as multinational exodus grows (06/03/2022): https://news.sky.com/story/accountancy-giant-pwc-to-exit-russia-as-multinational-exodus-grows-12559637
  20. Wheat prices hit record highs as war halts exports from Ukraine and Russia (05/03/2022): https://www.ft.com/content/e6a28dd9-ecea-4d67-b6b5-a50301b731b2
  21. Russia says it ‘will not forget’ Britain’s support for Ukraine in biggest threat yet (05/03/2022): https://www.mirror.co.uk/news/uk-news/breaking-russia-threatens-britain-directly-26395362
  22. BBC, CNN and other global news outlets suspend reporting in Russia following new Russian legislation that ‘appears to criminalise the process of independent journalism’ (05/03/2022): https://www.theguardian.com/media/2022/mar/04/bbc-temporarily-suspending-work-all-news-journalists-russia
  23. UK dockers refuse tanker of Russian gas (05/03/2022): https://www.bbc.co.uk/news/uk-england-kent-60619112
  24. Sky News journalist Stuart Ramsay and team shot at in ambush in Ukraine (05/03/2022): https://www.bbc.co.uk/news/uk-60627841
  25. UK minister responsible for farming states that UK pork prices likely to rise due to Russia-Ukraine conflict (04/03/2022): https://www.theguardian.com/environment/2022/mar/04/pork-prices-likely-to-rise-due-to-russian-invasion-of-ukraine-says-defra-minister
  26. UK’s Sainsbury’s halts sale of products 100% sourced from Russia (04/03/2022): https://www.reuters.com/business/retail-consumer/uks-sainsburys-stops-selling-products-100-sourced-russia-2022-03-04/
  27. London Stock Exchange suspends trading in 27 firms with strong links to Russia (03/03/2022): https://www.theguardian.com/business/2022/mar/03/london-stock-exchange-suspends-trading-in-27-firms-with-strong-links-to-russia
  28. Liz Truss announces moves against Everton-linked Alisher Usmanov and Igor Shuvalov (03/03/2022): https://www.theguardian.com/world/2022/mar/03/uk-imposes-sanctions-on-russian-billionaire-and-former-deputy-pm
  29. OneWeb: UK satellite firm suspends use of Russian rockets (03/03/2022): https://www.bbc.co.uk/news/uk-politics-60602512
  30. Wetherspoons drops sales of Russian beer after Ukraine invasion (03/03/2022): https://www.standard.co.uk/news/uk/wetherspoons-drops-sales-russian-beer-ukraine-invasion-baltika-lager-b985641.html
  31. Roman Abramovich confirms Chelsea are for sale and says net proceeds will go to Ukraine war victims (02/03/2022): https://www.theguardian.com/football/2022/mar/02/chelsea-swiss-billionaire-hansjorg-wyss-says-offered-chance-buy-club-roman-abramovich  
  32. Russia doubles interest rate after rouble slumps over sanctions (01/03/2022): https://www.bbc.co.uk/news/business-60550992
  33. Jaguar Land Rover pauses car sales to Russia over Ukraine conflict (01/03/2022): https://www.bbc.co.uk/news/uk-england-coventry-warwickshire-60569131
  34. UK’s biggest private pension fund sells off its Russia-linked assets (01/03/2022): https://www.theguardian.com/business/2022/mar/01/uk-private-pension-scheme-russia-uss
  35. YouTube bans Russia Today, Sputnik and connected Russian media channels in Europe (01/03/2022): https://www.independent.co.uk/tech/youtube-rt-russia-today-sputnik-ukraine-b2025512.html
  36. The UK government has joined with the US and the EU to announce new sanctions against Russia’s central bank designed to cut off Moscow’s major financial institutions from Western markets (28/02/2022): https://www.bbc.co.uk/news/business-60553362
  37. Priti Patel states that the UK will lead on efforts to get Russia suspended from Interpol (28/02/2022): https://www.reuters.com/world/uk-will-lead-efforts-get-russia-suspended-interpol-says-minister-2022-02-28/
  38. UK citizens are advised not to travel to Russia (28/02/2022): https://www.bbc.co.uk/news/business-60559513
  39. Vladimir Putin has ordered a ban on foreign exchange loans and transfers by Russian residents to outside of the country (28/02/2022): https://www.independent.co.uk/news/world/europe/putin-russia-sanctions-economy-ukraine-b2025043.html
  40. UK fast-tracks law to tackle Russian ‘dirty money’ (28/02/2022): https://www.bbc.co.uk/news/business-60549927
  41. Britain to block Russian ships from entering U.K. ports, sanctions more banks (28/02/2022): https://www.washingtonpost.com/world/2022/02/28/uk-ports-ukraine/
  42. Boris Johnson promises UK property register to expose kleptocrat money (28/02/2022): https://www.theguardian.com/business/2022/feb/28/boris-johnson-promises-uk-property-register-to-expose-kleptocrat-money
  43. Downing street suggests that UK law firms aiding Russian oligarchs could face penalties (28/02/2022): https://www.theguardian.com/world/2022/feb/28/uk-law-firms-aiding-russian-oligarchs-could-face-penalties-no-10-suggests
  44. Russia blames Liz Truss and others for nuclear alert (28/02/2022): https://www.bbc.co.uk/news/uk-60558048
  45. Shell joins BP in selling Russian assets as pressure on Kremlin-linked firms grows (28/02/2022): https://www.theguardian.com/world/2022/feb/28/shell-to-exit-joint-ventures-with-gazprom-and-pull-out-of-nord-stream-2
  46. BP shares slide after it announces exit from Russia (28/02/2022): https://news.sky.com/story/ukraine-invasion-bp-shares-slide-after-it-announces-exit-from-russia-12553883
  47. Mounting international sanctions amid Russia’s war on Ukraine have thrown plans to launch 36 OneWeb satellites this week into uncertainty (28/02/2022): https://spacenews.com/russia-ukraine-war-raises-questions-for-upcoming-oneweb-launches/
  48. FA announces England will not play Russia in any international football fixture ‘for the foreseeable future’ (27/02/2022): https://news.sky.com/story/ukraine-invasion-england-will-not-play-russia-in-any-international-football-fixture-for-the-foreseeable-future-fa-announces-12553645
  49. The UK bans Russian airlines from entering British airspace – and Russia has retaliated (27/02/2022): https://www.euronews.com/travel/2022/02/25/the-uk-bans-russian-airlines-from-entering-british-airspace-and-russia-has-retaliated
  50. EU, U.K., Canada, U.S. Plan to Cut Some Russian Banks From Swift (26/02/2022): https://www.wsj.com/articles/eu-leaders-weigh-cutting-russia-out-of-global-payment-system-swift-11645888337 
  51. Major Russian banks will be excluded from the UK financial system and oligarchs have been targeted in new sanctions announced by Boris Johnson – “the largest and most severe package of economic sanctions that Russia has ever seen” (25/02/2022): https://www.bbc.co.uk/news/uk-60515626
  52. Experts warn of potential surge in Russian cyber attacks on UK organisations (23/02/2022): https://www.independent.co.uk/news/world/politics/russia-ukraine-war-cyber-attack-online-b2021471.html
  53. Petrol prices hit new high amid Ukraine tensions (23/02/2022): https://www.bbc.co.uk/news/business-60490749
  54. Culture Secretary asks Ofcom to review Russia Today’s UK licence (23/02/2022): https://www.itv.com/news/2022-02-23/culture-secretary-asks-ofcom-to-review-russia-todays-uk-licence
  55. Critics say mild UK sanctions on Russia don’t match promises (23/02/2022): https://abcnews.go.com/Business/wireStory/critics-mild-uk-sanctions-russia-match-promises-83062191
  56. Sanctions Threaten U.K.’s Position as Playground for Russian Oligarchs (23/02/2022): https://www.wsj.com/articles/sanctions-threaten-u-k-s-position-as-playground-for-russian-oligarchs-11645623038
  57. Foreign Secretary Truss says that UK will stop Russia selling sovereign debt in London (23/02/2022): https://www.theguardian.com/world/2022/feb/23/uk-russia-ukraine-liz-truss
  58. Foreign Secretary Truss tells English teams to boycott Champions League final over Russia crisis (23/02/2022): https://www.lbc.co.uk/news/sports/boycott-champions-league-final-russia-truss/ 
  59. Britain sanctions Russian oligarch Timchenko, two Rotenberg brothers and five banks (22/02/2022): https://www.reuters.com/world/uk/uk-says-russian-invasion-ukraine-has-begun-2022-02-22/ 
  60. Stocks rebound after selloff as Russia pulls some troops back from border (15/02/2022): https://www.reuters.com/markets/europe/global-markets-wrapup-1-2022-02-15/ 
  61. Boris Johnson states that Britain could block Russian companies from raising capital in London and expose property and company ownership in London if Russia invades Ukraine (15/02/2022): https://www.reuters.com/markets/stocks/uk-could-stop-russian-companies-raising-money-london-pm-johnson-2022-02-15/ 
  62. Anglo-Swiss company Glencore sells stake in Russia’s Russneft to cap 20-year partnership (15/02/2022): https://www.reuters.com/business/exclusive-glencore-sells-stake-russias-russneft-cap-20-year-partnership-2022-02-15/
  63. Analysis shows that 74% of ransomware revenue goes to Russia-linked hackers (14/02/2022): https://www.bbc.co.uk/news/technology-60378009 
  64. BP sticking with Russia business, says Ukraine crisis is having ‘no impact’ on its operations (14/02/2022): https://www.cnbc.com/2022/02/14/bp-ceo-bernard-looney-commits-to-russia-operations-amid-ukraine-crisis.html
  65. Global markets tumble as Russia-Ukraine tensions hit shares (14/02/2022): https://www.theguardian.com/business/2022/feb/14/global-markets-tumble-russia-ukraine-tensions-hit-shares-ftse-100
  66. London mayor takes aim at ‘Putin’s allies’ with foreign property register to prevent money laundering (07/02/2022): https://www.cnbc.com/2022/02/07/londons-mayor-sadiq-khan-calls-for-register-of-foreign-owned-property.html
  67. Labour calls on Tories to return money from donors linked to Russia (06/02/2022): https://www.theguardian.com/world/2022/feb/06/labour-calls-on-tories-to-return-money-from-donors-linked-to-russia 
  68. Ministers accused of failing to stem flow of Russian ‘dirty money’ into UK (04/02/2022): https://www.theguardian.com/politics/2022/feb/04/ministers-accused-of-failing-to-stem-flow-of-russian-money-into-uk
  69. Nicola Sturgeon states that the Britain’s failure to tackle Russian dirty money has enabled Putin’s aggression (01/02/2022): https://www.theguardian.com/commentisfree/2022/feb/01/ukraine-russia-vladimir-putin-boris-johnson-dirty-money
  70. The UK government has threatened to take action against Kremlin-linked oligarchs if President Vladimir Putin orders an invasion of Ukraine (01/02/2022): https://edition.cnn.com/2022/02/01/business/russia-oligarchs-uk-sanctions/index.html 
  71. The UK has announced a broadening of its sanctions regime in light of tensions on the Ukraine border (31/01/2022): https://www.gov.uk/government/news/foreign-secretary-ramps-up-uk-sanctions-regime-to-leave-kremlin-nowhere-to-hide 
  72. Kremlin spokesman Dmitry Peskov told reporters that Moscow will provide a response to London’s attack on Russian business if it occurs (31/01/2022): https://tass.com/politics/1395287
  73. As tension between Russia and Ukraine escalates, experts have warned about potential blackouts that could put even more strain on power grids across Europe (26/01/22): https://www.energylivenews.com/2022/01/26/could-russia-ukraine-clash-bring-blackouts-in-europe
  74. Volatility has plagued Russian markets in recent weeks amid Western fears Russia is poised to invade Ukraine, something Moscow has repeatedly denied (26/01/22): https://www.businesstoday.in/latest/world/story/russian-rouble-falls-back-past-79-vs-dollar-amid-sell-off-as-ukraine-tensions-simmer-320375-2022-01-26%EF%BB%BF
  75. The United States has threatened to impose a novel export control to deprive Russia of key tech components that would damage AI and aerospace industries if Russia were to invade Ukraine (24/01/22): https://www.pressreader.com/usa/san-diego-union-tribune/20220124/281702618095730
  76. Britain could be forced to contend with record-breaking prices for gas and petrol if the fear of a Russian invasion of Ukraine becomes a reality, ministers have been told (24/01/22): https://www.thetimes.co.uk/article/fears-mount-russia-will-weaponise-gas-supplies-over-ukraine-crisis-xxng6v87b
  77. The UK is withdrawing some embassy staff and dependents from Ukraine in response to the “growing threat” from Russia (24/01/22): https://www.iwradio.co.uk/news/sky-news/uk-pulls-some-embassy-staff-out-of-ukraine-in-response-to-the-growing-threat-from-russia
  78. Russia and the US have held talks at a ‘critical moment’ as the possibility for war in Ukraine hangs over Europe (22/01/22):https://www.msn.com/en-gb/news/world/russia-and-us-hold-crucial-talks-as-full-scale-war-in-ukraine-looms/ar-AAT0Inm
  79. Liz Truss has called on the “free world” to reduce its economic dependence on Russia as tensions continue over Ukraine (21/01/22): https://www.msn.com/en-gb/money/other/liz-truss-calls-on-e2-80-98free-world-e2-80-99-to-reduce-economic-dependence-on-russia/ar-AAT020k?pfr=1
  80. The Iranian foreign minister says Iran and Russia are redoubling their joint efforts to nullify US and European sanctions targeting the economies of the two countries (19/01/22): https://en.abna24.com/news//amir-abdollahian-iran-russia-redoubling-efforts-to-nullify-western-sanctions-cement-trade-ties_1220359.html
  81. Russian stocks take biggest tumble since March 2020 as fear mounts for western investors over Ukraine invasion (18/01/2022): https://www.ft.com/content/7c8c2717-0cd4-4dc4-98d4-2f4be8142804
  82. Russia’s Gazprom has no Europe gas exports planned in February via Yamal pipeline (17/01/2022): https://www.reuters.com/business/energy/yamal-gas-pipeline-flows-still-heading-eastward-germany-poland-2022-01-17/
  83. A new batch of OneWeb satellites have been delivered to Kourou spaceport for launch atop Soyuz rocket in February (17/01/2022): https://tass.com/science/1389227
  84. Tobias Ellwood, chair of the House of Commons Defence Select Committee, has told GB News that British energy prices on the line if Russia invades Ukraine (15/01/2022): https://www.gbnews.uk/news/british-energy-prices-on-the-line-if-russia-invades-ukraine-warns-defence-committee-chair/205548
  85. MPs to re-examine UK response to Russian oligarch money laundering in London (10/01/2022): https://www.theguardian.com/politics/2022/jan/10/mps-to-re-examine-uk-response-to-dirty-money-from-russia
  86. Russian submarines threatening undersea network of internet cables, says UK defence chief Sir Tony Radakin (08/01/2022): https://news.sky.com/story/russian-submarines-threatening-undersea-network-of-internet-cables-says-uk-defence-chief-sir-tony-radakin-12511437
  87. Britain’s foreign secretary said that any further military incursion into Ukraine by Russia would bring “massive consequences, including coordinated sanctions to impose a severe cost on Russia’s interests and economy” (06/01/2022): https://www.reuters.com/world/uk/britain-warns-russia-over-ukraine-were-working-high-impact-sanctions-2022-01-06/
  88. Gazprom cashed in a £179 million dividend from its London-based international trading arm (02/01/2022): https://www.thetimes.co.uk/article/london-traders-at-russias-gazprom-cash-in-on-gas-price-turmoil-cm5scjmn8
  89. Russian rocket takes 36 more satellites from British firm OneWeb into orbit, bringing the company over half way towards completing global broadband internet goal (27/12/2021): https://techxplore.com/news/2021-12-uk-firm-closer-global-internet.html
  90. Russian start-up ‘L-Charge’ aims to bring mobile EV superchargers to London (23/12/2021): https://www.reuters.com/markets/commodities/russian-start-up-aims-bring-mobile-ev-superchargers-london-2021-12-23/
  91. Sensitive UK police data that was obtained during a data breach of UK firm Dacoll has been leaked by Russian hackers (19/12/2021): https://www.rt.com/uk/543692-russian-hackers-british-police/
  92. Russian online retailer ‘Wildberries’ launches sales in the UK (17/12/2021): https://tass.com/economy/1377435
  93. Russia raises interest rate to 8.5% and expects inflation to slow to 4-4.5% by end of 2022 (17/12/2021): https://www.reuters.com/markets/europe/russia-raises-key-rate-sharply-85-its-highest-since-2017-2021-12-17/
  94. UK warns that China and Russia threaten ‘free and open internet’ in document setting out its new cyber strategy (14/12/2021): https://www.ft.com/content/561fe2ec-1a89-47dc-ba29-c902746ee6bc
  95. UK gas prices hit record high amidst concerns over Ukraine invasion (14/12/2021): https://www.ft.com/content/17b58434-be03-4cb8-b75a-456e49f3bc0b 
  96. EU’s top diplomat states that the bloc is making Russian sanctions plan with the UK and US (13/12/2021): https://uk.news.yahoo.com/eu-making-russia-sanctions-plan-114634587.html
  97. Britain’s foreign secretary states that the UK would aim to damage the Russian economy if it makes an incursion into Ukraine (11/12/2021): https://www.independent.co.uk/news/uk/politics/russia-ukraine-liz-truss-g7-b1974075.html
  98. Boris Johnson tells call with world leaders that the UK will use ‘all the economic and diplomatic tools at its disposal’ to prevent any invasion of Ukraine by Russia (07/12/2021): https://www.mirror.co.uk/news/politics/uk-use-all-economic-diplomatic-25633473
  99. Floating nuclear power plant near the arctic town Pevek is expected to power several resource projects including Mayskoye, a gold mine developed by UK-listed miner Polymetal (01/12/2021): https://www.ft.com/content/f5d25126-94fc-41fc-bc35-341df0560f4d
  100. Britain’s foreign secretary urges Nato allies to block Nord Stream 2 pipeline (30/11/2021): https://www.theguardian.com/world/2021/nov/30/truss-urges-nato-allies-to-block-russias-nord-stream-2-gas-pipeline
  101. Catherine the Great letter supporting inoculation sells for $1.3 million in London auction (29/11/2021): https://www.nytimes.com/2021/11/29/arts/catherine-the-great-vaccination-letter-auction.html
  102. Russian discount supermarket ‘Mere’ delays opening more UK stores amid supply chain problems and recruitment issues (24/11/2021): https://www.mirror.co.uk/money/russian-lidl-mere-delays-opening-25538543
  103. UK gas prices rise as Germany rejects Russian pipeline (18/11/2021): https://www.express.co.uk/news/uk/1523247/gas-prices-rise-17-percent-germany-rejects-russian-pipeline
  104. UK’s National Cyber Security Centre warns of record number of cyber incidents in the UK, with ransomware attacks originating from Russia dominating its activities (17/11/2021): https://www.theguardian.com/technology/2021/nov/17/uk-tackles-record-cyber-incidents-as-russian-ransomware-attacks-increase
  105. Boris Johnson warns Europe that there is a choice coming between ‘mainlining ever more Russian hydrocarbons in giant new pipelines, and sticking up for Ukraine’ (15/11/2021): https://www.reuters.com/world/uk/uks-johnson-says-choice-looms-between-russian-hydrocarbons-backing-ukraine-2021-11-15/
  106. Russian ambassador to the UK denies that his country lacks urgency on climate change despite absence from COP26 and also states that there is a good chance that Brexit will present an opportunity to establish a new and better relationship with Russia especially for ‘businessmen’ (10/11/2021): https://news.sky.com/story/cop26-russian-ambassador-to-london-denies-his-country-lacks-urgency-over-climate-change-12465468
  107. Conti, a Russia-based ransomware group, is demanding tens of millions in cryptocurrency following  a ransomware attack on London’s Graff jewellers (01/11/2021): https://www.itpro.co.uk/security/ransomware/361409/london-jeweller-graff-conti-ransomware-celebrity-leak
  108. Russian news company RT loses appeal against £200,000 Ofcom fine for ‘breaches of impartiality’ about the Salisbury poisoning and the war in Syria (01/11/2021): https://www.salisburyjournal.co.uk/news/19686856.salisbury-poisonings-rt-loses-appeal-ofcom-fine/
  109. Gas prices tumble in Europe as Russia signals more supplies next month (29/10/2021): https://www.ft.com/content/097438c1-c0c0-4e6b-993a-9c502f05cf83
  110. Segezha shareholder Bonum Capital would support the forestry group seeking a London listing (26/10/2021): https://www.reuters.com/article/russia-segezha-bonum/russias-bonum-says-it-would-support-forestry-firm-segezha-in-london-listing-idINL8N2RM311
  111. Prime Minister Boris Johnson urges President Putin to commit to net zero by 2050 (rather than 2060) in call ahead of the COP26 climate summit (25/10/2021): https://www.gov.uk/government/news/pm-call-with-president-putin-of-russia-25-october-2021
  112. President Putin says he will not attend the COP26 climate summit in Glasgow (21/10/2021): https://www.bbc.co.uk/news/world-europe-58977993
  113. The Moscow Exchange aims to boost gold trading by the set-up of links with the London market (19/10/2021): https://www.bloomberg.com/news/articles/2021-10-19/moscow-bourse-wants-to-boost-gold-trade-after-london-market-link
  114. Russian railway networks constrained as explosive growth in sea shipping costs has led to Chinese manufactures sending more goods to Europe through this avenue (19/10/2021): https://uk.sports.yahoo.com/news/surge-goods-china-strains-russias-080331634.html
  115. Russian ambassador to the UK states that Russia has not cut off gas supplies for ‘political reasons’ and that it will come to the rescue of the UK if needed (18/10/2021): https://www.express.co.uk/news/world/1507405/russia-latest-news-moscow-uk-ambassador-andrei-kelin-vladmir-putin-gas-supplies-ont
  116. British American Tobacco will close production in Saratov due to falling demand and rising prices (18/10/2021): https://tass.ru/ekonomika/5690755
  117. 36 more satellites from British company Oneweb put into orbit by Russian rocket (14/10/2021): https://tass.com/science/1349697
  118. Russian tech giant Yandex launches an ultra-fast grocery delivery service in the UK to compete with a multitude of rapid grocery delivery apps (14/10/2021): https://www.cnbc.com/2021/10/14/russias-yandex-launches-rapid-grocery-delivery-service-in-london.html
  119. UK gas prices fall from record high after Russia says that it is boosting supplies to Europe (07/10/2021): https://www.bbc.co.uk/news/business-58815665#
  120. Russian IT firm Softline plans London IPO and secondary listing in Moscow (30/09/2021): https://www.nasdaq.com/articles/russian-it-firm-softline-plans-london-ipo-secondary-listing-in-moscow-2021-09-30-0
  121. Russia supplying less natural gas to the market than before the pandemic (23/09/2021): https://edition.cnn.com/2021/09/23/business/europe-uk-energy-crisis/index.html
  122. Polymetal, a Russian gold miner that is part of the benchmark FTSE 100 index, warns that the chip shortage afflicting the car industry will hit the makers of mining vehicles and machinery (31/08/2021): https://www.ft.com/content/36b8dfd6-6818-44f2-8e86-b1fee7ea4ed5   
  123. Russian Rocket launches 34 new satellites for British company Oneweb (22/08/2021): https://www.themoscowtimes.com/2021/08/22/russian-rocket-launches-34-new-uk-satellites-a74863
  124. A Russian discount food retailer has opened its first UK store (18/08/2021): https://www.express.co.uk/life-style/life/1478487/mere-uk-russian-lidl-discount-supermarket-budget-prices-store-opening

Shaan Afzal-Khan is a Global Leadership Fellow at Polar Research and Policy Initiative. He is part of the PRPI team behind the UK-Arctic Trade and Investment Observatory, and serves as the lead for the Kingdom of Denmark and Russia.