How much influence does the U.S. have on Russia’s economy?
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The Obama administration is threatening Russia with economic sanctions, if it continues with its military action in Ukraine. But Russia’s main exports are oil and gas, and the United States, which imports about $30 billion of goods, or less than 1 percent of the Russian economy, isn’t a big customer.
Much more powerful than sanctions, says Andy Kuchins, director of the Center for Strategic and International Studies’ Russia and Eurasia program, is the effect of Russia’s actions on its own stock market, which has dropped 10 percent so far.
Countries that buy Russian exports:
- Netherlands, 13.0% of Russia’s exports
- Germany, 6.0%
- France, 3.4%
- Finland, 3.4%
- Lithuania, 1.9%
- Sweden, 1.7%
- United Kingdom, 2.4%
- Estonia, 0.43%
- Norway, 0.41%
- Latvia, 0.40%
- Denmark, 0.37%
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