During the war, the Russian Federation earned 550 billion euros from gas and oil: who are the main sponsors of the war

Since the beginning of the full-scale invasion of Ukraine, Russia has earned about 550 billion euros from the export of oil, natural gas and coal.

This is evidenced by data from the Center for Research on Energy and Clean Air (CREA) .

The largest buyer for the entire period from February 24, 2022 to November 13, 2023 was the European Union. Collectively, EU countries paid Russia 180 billion euros for all fossil fuels purchased during this time. Of this, more than 102 billion euros are crude oil, 74 billion are natural gas, and the rest are coal.

The second largest buyer of Russian hydrocarbons after the EU was China - more than 143 billion euros. Of these, oil – 107 billion, gas – 17, coal – 18. Further behind are India (a total of 64 billion), Turkey (53 billion), and South Korea (14 billion).

It should be noted that the dynamics of procurement have changed noticeably over the past year and a half. If Europe significantly reduced its purchases, the Asian countries, on the contrary, increased them, although in general not so radically.

Russian oil exports – latest news

In the 12th package of European sanctions against Russia, among other things, it is planned to tighten control over compliance with the so-called “price ceiling” on Russian oil. Additional procedures should make it more difficult for Russians to circumvent this restriction.

Denmark is also considering the possibility of banning Russian oil tankers from transiting through its waters. In fact, this means a ban on Russians traveling between the Baltic Sea and the Atlantic.