Russia has earned EUR 93 billion from fossil fuel exports in the first 100 days of the war against Ukraine.
This is stated in the report of the Centre for Research on Energy and Clean Air (CREA) registered in Finland, European Pravda reports.
The report was released under the title "Financing Putin’s war: Fossil fuel imports from Russia in the first 100 days of the invasion.”
According to the study, the EU remains the largest buyer of Russian gas and oil - 61% of Russian fossil fuel exports, which amounts to EUR 57 billion.
Out of the individual states, China was the largest importer (EUR 12.6 billion), Germany was second (EUR 12.1 billion), and Italy was third (EUR 7.8 billion).
Import volumes fell slightly in May, about 15% from the time before the invasion, as many countries and firms shunned supplies from Russia. The decrease in demand and the reduced price of Russian oil in May cost the country about EUR 200 million per day.
However, the increase in demand for fossil raw materials led to an unexpected result: average export prices in Russia were on average 60% higher than last year, even if they were reduced to international prices.
China has overtaken Germany as the biggest importer. China's imports were essentially constant, while Germany managed to moderately reduce oil imports from Russia.
Poland and the United States contributed most to the decrease in Russia's income. Lithuania, Finland and Estonia achieved a sharp percentage reduction of more than 50%.
In April-May, 68% of Russian crude oil supplies were carried out by ships owned by the EU, the United Kingdom and Norway, with only Greek tankers carrying 43%. As for supplies to India and the Middle East, this share was even higher - 80%. 97% of tankers were insured in only three countries: the United Kingdom, Norway and Sweden.
As Ukrainian News Agency earlier reported, sanctions against Russia affected more than 86% of Russian companies.
Also, global sanctions damage Russian gambling.
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