Report Says Russia Earned More Than $96 Billion from Fossil-Fuel Exports in First 100 Days of War
Russia earned 93 billion euros ($96.8 billion) from fossil-fuel exports during the first 100 days of its war in Ukraine, a new report shows.
The European Union imported 61 percent of Russia’s fossil-fuel exports during the period, according to the report by the Center for Research on Energy and Clean Air (CREA).
Russia’s fossil-fuel revenues come first from the sale of crude oil, followed by pipeline gas, oil products, liquefied natural gas (LNG), and coal.
The independent, Finland-based researcher issued its report on June 13 as Kyiv continues to urge the West to sever all trade with Russia in the hopes of cutting off its financing for the war.
The EU last month agreed to a compromise deal that cuts imports of Russian oil by more than two-thirds by targeting Russian oil delivered by sea while temporarily exempting oil delivered by pipeline.