Boosted by rising energy prices, Russia’s revenues from fossil fuel exports soared to €63 billion in the first two months of the war in Ukraine, with about €44 billion (71%) of that coming from the European Union, according to a report by the Centre for Research on Energy and Clean Air (CREA), which was published on 28 April.
The EU thus remains the main destination for Russia’s fossil fuel exports. According to the report, six EU ports received a quarter of all shipments of Russian...