While the Russian invasion of Ukraine has reportedly already cost Russia around €100 billion, the country has exported €158 billion worth of fossil fuels since the invasion began six months ago, estimated the Centre for Research on Energy and Clean Air (CREA) on Tuesday, 6 September, in the third edition of its report on the subject.
According to this research organisation, the European Union counts for 54% of this total, that being €85 billion. It is followed by China (35 billion), Turkey (11 billion), India (7 billion), and South Korea (2 billion).
Within the EU, the largest importers of Russian fossil fuels since the beginning of the invasion have been Germany (19 billion), the Netherlands (11.1 billion), Italy (8.6 billion), Poland (7.4 billion), France (5.5 billion), Bulgaria (5.2 billion), Belgium (4.5 billion), and Spain (3.3 billion).
Of the 158 billion, the CREA estimates that 43 billion went to Russia’s federal budget, thus contributing towards financing war crimes in Ukraine.
“Surging global fossil fuel prices mean that Russia is still making record breaking revenues from fossil fuels, despite the reductions in export volumes”, emphasised Lauri Myllyvirta, one of the authors of the report.
In his opinion, governments thus need to establish tariffs or price caps on imports from Russia and expedite energy-saving measures.
See the report: https://aeur.eu/f/2ym (Original version in French by Damien Genicot)