Crisis in Ukraine: what consequences have tensions with Russia had on the French economy?

The crisis in Ukraine mayit have direct consequences on the French economy? “The trade balance is in deficit. Exports from France to Russia represent 6.4 billion euros, and imports 9.7 billion. It’s a small market, but what we buy today will cost more in the coming months.”explains journalist Arnaud Boutet, present, Wednesday, February 23, on the set of 19/20.

First example: wheat, whose prices are rising. The Russian gas bill will also swell. As to to fuel prices, “Russian oil is 40% of imports into Europe”says Arnaud Boutet. “There is no sanction to date targeting this Russian oil, but (…) if the situation degenerates tomorrow, Europe could turn off the tap in retaliation. Prices would go up.”concludes the journalist.