📈 Surging Fuel Imports Drive EU Imports from the U.S.

Following Russia's invasion of Ukraine, European sanctions on Russian energy commodities significantly increased EU imports of fuels and related materials from the U.S. Between 2021 and Q3 2024, these imports surged by 153%, reaching €80 billion (TTM), compared to a 29% increase in other goods, totaling €259 billion. From 2019 to Q3 2024, fuels and related materials accounted for 56% of the total rise in EU imports from the U.S., underscoring their critical role in reshaping transatlantic trade dynamics.