Russia gained over €90 bln exporting oil and gas in first 100 days of war

During the first hundred days of the war against Ukraine, Russia earned 93 billion euros in fossil energy exports. This is the conclusion of the publication of the Finnish-registered Center for Energy and Clean Air Research (CREA), published on Monday 13 June.

the EU remains the largest buyer of Russian gas and oil – it accounted for 61 percent of Russia’s fossil fuel exports between February 24 and June 3, equivalent to 57 billion euros.

As for individual countries, the largest buyers are China which hits the top with €12,6 bln paid, followed by Germany €7,8 bln and Italy € 7,8 bln.

Most of Russia’s revenue comes from the sale of crude oil (46 billion euros), almost twice as much from the sale of gas exported through pipelines (24 billion euros), and the rest from the sale of petroleum products (13 billion), liquefied natural gas (5.1 billion) ) and coal (4.8 billion).

While some countries (such as Poland, Finland and the Baltic states) have cut their imports since the start of the war, others have increased their purchases, including China, India and France, a member of the European Union, said CREA analyst Lauri Mulluvirta. “While the EU is considering tightening sanctions against Russia, France has increased its imports, becoming the world’s largest buyer of Russian LNG,” said the Finnish expert. In his opinion, Paris’ statements should coincide with his actions.