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Since the start of the war in Ukraine, Russia has nearly doubled the revenue it earns from selling fossil fuels to the European Union. The invasive country has benefited from higher prices despite lower volumes. Accordingly With the British newspaper The Guardian, In more than two months, Russia collected about 62 billion euros from oil, gas and coal exports – Number provided by Center for Energy and Clean Air Research (CREA)Who analyzed the movement of transport and goods.
Since February 24, the European Union has imported about 44 billion euros In the whole of 2021, the value amounted to approximately 140 billion euros, or approximately 12 billion per month. Russia still dominates Europe’s energy supply – the higher prices it now charges means more revenue, despite back-to-back sanctions and export restrictions.
Laurie Mylvirtasenior analyst at the Center for Research in Energy and Clean Air, tells the newspaper that “Continuous energy imports are the main loopholes in sanctions against Russia” and that countries that buy these fossil fuels are “complicit in the appalling violations of international law committed by the Russian military.”
The data collected shows that many fossil fuel companies continued to trade in large quantities with Russia, for example BP, Shell and the American multinational oil and gas company ExxonMobil – its spokesperson confirmed that the company did not. There are no new decades since the invasion began. Shell says it is “phasing out all Russian hydrocarbons, in consultation with governments”.
With regard to the countries concernedGermany has been the largest importer in the past two months, even in the political context in which the government has reiterated the need to stop relying on Russian oil. Italy and the Netherlands are also at the top of the same list: It imported about 6.8 billion and 5.6 billionrespectively – however, it should be noted that many imports will be used in other geographic coordinates as both countries operate large ports.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.