Finland reduced oil purchases from Russia by 70% in March after the outbreak of war in Ukraine, Bloomberg reports with reference to the official data of the Finnish customs.
In value terms, imports fell by 45% relative to March 2021.
“Finland’s trade relations with Russia are gradually collapsing,” the Interfax agency quotes the senior economist Danske Bank A/S Pasi Kuoppamaki.
The authorities of Finland also reported that in 2021 the country imported 92% of natural gas from Russia. In March, the cost of gas imports flew by 282% in annual terms, up to 151.4 million euros. At the same time, the country produces only 5% of the electricity consumed at gas power plants.