Economic ties between Germany and Russia have weakened sharply since the war in Ukraine began, according to new German government data. German imports from Russia fell 96.4% in the first half of 2026 compared with the same period in 2021, to 500 million euros from 15 billion euros, largely due to lost oil and gas supplies. German exports to Russia dropped to 3.4 billion euros in the first six months of 2026, around a quarter of the 2021 level. Russian-controlled companies in Germany fell from 229 in 2021 to 76 in 2024, while German firms active in Russia dropped from 481 to 290 by 2024. Direct flights were suspended under EU sanctions, leaving about 39,900 passengers travelling to Russia in the first half of 2026, versus about 1 million in the first half of 2019.
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EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 1.12376 |
| Change that session | +0.22% |
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