Breakdown of Russia’s fuel export income over the 100 days of its invasion of Ukraine

13 June, 05:21 PM
The EU provides more than 60% of the Kremlin's revenue from energy sales (Photo:Dado Ruvic / Reuters)

The EU provides more than 60% of the Kremlin's revenue from energy sales (Photo:Dado Ruvic / Reuters)

During the first 100 days of its war against Ukraine, Russia earned EUR 93billion ($97 billion) from fuel exports, according to a study by the indepen-dent Finnish Centre for Research on Energy and Clean Air, published on June 12.

It is worth noting that transactions from the European Union accounted for 61% of this sum — approximately EUR 57 billion ($59.5 billion).

The largest importers of Russian fossil fuels are China (EUR 12.6 billion or $13.1 billion), Germany (EUR 12.1 billion or $12.6 billion), Italy (EUR 7.8 billion or $8.1 billion), the Netherlands (EUR 7.8 billion euros or $8.1 billion), Turkey (EUR 6.7 billion or $6.9 billion), Poland (EUR 4.4 billion or $4.6 billion), France (EUR 4.3 billion or $4.5 billion) and India (EUR 3.4 billion or $3.5 billion).

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The largest importers of Russian energy (Фото: energyandcleanair.org)
The largest importers of Russian energy / Фото: energyandcleanair.org

The sale of crude oil constituted the majority of Russia’s revenue — at EUR 46 billion ($48 billion).

Sales of pipeline gas brought in EUR 24 billion ($25 billion), oil products — EUR 13 billion ($13.5 billion), LNG — EUR 5.1 billion ($5.3 billion), and coal— EUR 4.8 billion ($5 billion).

The largest importers of Russian energy resources by type of fuel (Фото: energyandcleanair.org)
The largest importers of Russian energy resources by type of fuel / Фото: energyandcleanair.org

"China overtook Germany as the largest importer,” the Center says.

“China’s imports have been essentially constant while Germany has man-aged a modest reduction in oil imports from Russia.”

CREA noted that Poland, the United States, Turkey, Spain, Italy and Japan had made the largest contribution to reducing imports. At the same time, China, India, the UAE and France have increased purchases.

Overall, in May, according to CREA, Russian exports fell by 15% compared to the period before the invasion, but at the same time the average export prices from Russia are now about 60% higher than a year earlier, which al-lowed the aggressor nation to make generate additional profits.

As previously reported, the sixth package of sanctions imposed by the EU against Russia provides for a ban on imports of crude oil and a number of petroleum products. The phasing out of crude oil will take about six months, while oil products will require up to eight months.

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