Russia sees export losses due to trade wars at $9 billion, economy ministry says

MOSCOW, June 19 (Reuters) - Russia estimates potential export losses due to global trade wars at $9 billion, but expects a gradual stabilisation of flows and a possible expansion of supplies to China, Deputy Economy Minister Vladimir Ilyichev said on Thursday.

President Trump has upended longstanding trade relations since returning to the White House, using erratic tariff threats and aggressive negotiating tactics in a bid to secure better deals from trading partners.

"Overall, we estimate the impact on Russia of this reorientation at $33 billion, of which about $9 billion is the potential loss of Russian exports in third-country markets," said Ilyichev.