Trade turnover between Russia and Spain grew by 6 percent in 2018 to 5.6 billion euros, or roughly $6.3 billion, Russian Ambassador to Spain Yury Korchagin told Russian reporters.
Trade turnover between Russia and Spain grew by 6 percent in 2018 to 5.6 billion Euros, or roughly $6.3 billion, Russian Ambassador to Spain Yury Korchagin told Russian reporters.
"[Russian-Spanish] trade turnover decreased almost threefold after 2014. However, we have seen it grow in the last two years. In 2018, it increased by 6 percent and reached 5.6 billion euros," Korchagin said.
The ambassador added that it was still significantly less than before the restrictions against Russia that the European Union introduced in 2014.
The increase was partly due to the launch of deliveries of Russian liquefied natural gas (LNG) to Spain, Korchagin explained.
In June 2018, Fedor Litke tanker brought the first LNG shipment from Russia's Yamal Peninsula to Spain, as part of a project by Spain's Naturgy (formerly Gas Natural Fenosa) and Russia's Yamal LNG. Under their agreement, 37 tankers with gas from Yamal are set to arrive in Spain annually up to 2041.