Russia exported EUR 100 billion worth of fuel to the EU
11.10.2022 - 17:50
Since the beginning of the russian invasion of Ukraine in February, exports of russian fossil fuels to the EU have reached 100 billion euros.
Despite the cessation of coal purchases from russia, the EU continues to import russian oil products and gas to the tune of approximately 260 million euros per day.
EU sanctions have reduced russian coal exports by 11.0 billion euros since the beginning of July. Russia’s revenues could be reduced even more, by a total of 14.1 billion euros, if price caps were applied to all cargoes of fossil fuels transported to third countries aboard European or EU-insured vessels. So far, in this way, the russians have been able to compensate for approximately half of the lost EU market, says the CREA study.
In September, russian fossil fuel revenues fell by 14% compared to August. In general, the export of Russian fossil fuels to the EU was halved, which led to an overall drop in russian exports by 30%.
Recently, USM wrote that втратила 60% ринку russia lost 60% of the market for sea transportation of raw oil.
