Russia garnered 93 billion euros in fossil fuel export revenues in the first 100 days of its war against Ukraine, most of it going to the EU, research center report finds independent published on Monday. This publication from the Center for research on energy and clean Air (CREA), based in Finland, comes as Ukraine urges Westerners to cut off all trade with Russia to stop feeding the Kremlin’s war chest.
Over the period, the EU accounted for 61% of fossil imports, or approximately 57 billion euros. The biggest importers were China (12.6 billion euros), Germany (12.1 billion) and Italy (7.8 billion). Russia’s revenues come first from the sale of crude oil (46 billion), followed by gas transported by gas pipelines (24 billion), then petroleum products, LNG and finally coal.
In addition, “while the EU is considering stricter sanctions against Russia, France has increased its imports, to become the largest buyer of Russian LNG in the world”, underlines Lauri Myllyvirta, analyst of the CREA. These are also cash purchases and not under long-term contracts, which means that France knowingly decided to use Russian energy despite the invasion of Ukraine.
Source: 20minutes
I, Ronald Payne, am a journalist and author who dedicated his life to telling the stories that need to be said. I have over 7 years of experience as a reporter and editor, covering everything from politics to business to crime.
