EPRS Admin By / June 6, 2022

graphs GW_russia dependency

EU import dependency on Russia

Russia is the largest country in the world. The country is richly endowed with natural resources and its economy has followed a commodity-based growth model. Russia plays a crucial role in global commodity markets, in the food, energy, minerals and materials sectors. In 2021, it was the world’s third biggest nickel producer, mining 250 000 tonnes (9 % of global production). Nickel is used for many products (mainly stainless steel, a range of alloys, electroplating and the fast-growing electric vehicle battery market). Coke and iron ore are used in steelmaking. Moreover, in 2021 Russia was the world’s top exporter of nitrogen fertilisers (produced using natural gas), and ranked second for phosphorous and potassium fertilisers. Furthermore, Russia is, by far, the world’s most forested country, hosting 20 % of the global forest area.

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