From the beginning of full scale invasion, the Russian Federation has earned more than half a trillion euros from gas and oil
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Economics
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From the beginning of full scale invasion, the Russian Federation has earned more than half a trillion euros from gas and oil

Russia makes money by selling energy
Source:  online.ua

After the beginning of the full scale invasion of Ukraine, the Kremlin earned about 550 billion from the sale of gas, oil and coal.

What is known about Russia's preservation of insane earnings from gas and oil

According to analysts from the Centre for Energy and Clean Air Studies, the EU was the largest buyer of Russian energy resources from 24 February 2022 to 13 November 2023.

In total, Russia received 180 billion euros from EU countries for supplies of all types of fossil fuels.

At the same time, the total expenditure on Russian crude oil among the EU countries amounted to more than 102 billion euros, another 74 billion euros were spent on the purchase of gas, and the rest - on the purchase of coal.

Among the EU countries, the largest buyers of Russian energy resources were Germany, which spent a total of 28 billion euros, the Netherlands - 18 billion euros, and Italy - 17 billion euros.

The second largest buyer of Russian hydrocarbons after the EU was China - more than 143 billion euros. Of them, oil - 107 billion, gas - 17, coal - 18. India (64 billion in total), Turkey (53 billion), South Korea (14 billion) follow with a big lag.

It is worth noting that over the past year and a half, the dynamics of purchases have changed significantly. While Europe has significantly reduced its purchases, Asian countries have increased them, albeit not as radically.

What is known about the strengthening of EU sanctions against Russian energy carriers

The 12th package of European sanctions against Russia, among other things, plans to strengthen 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.

In addition, Denmark is considering banning the transit of Russian oil tankers through its waters. In effect, this would mean a ban on Russians from passing between the Baltic Sea and the Atlantic.

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