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by Olivier Daelen
published on To •
7 min read
published on To •
7 min read
Riddled with Western sanctions for nearly a year following its attempted invasion of Ukraine, Russia has mostly managed to keep its head above water thanks to its energy revenues. And it is clear that European buyers and carriers still play a major role in these operations.
Why is this important?
In the months following the start of the war in Ukraine, European countries and their Western allies instituted a multitude of measures against Russia. Objective: to reduce the Kremlin’s income to push it to stop its offensive. Considered too lenient, and sometimes even circumvented, these measures do not prevent Russia from continuing to reap huge revenues through its fossil fuel exports.In the news : Russia still earns half a billion euros a day thanks to its fossil fuels.
- According to a rapport from the Center for Research on Energy and Clean Air (CREA), Russia is currently reaping 560 million euros per day via its fossil fuel exports (gas, oil and coal).
Numbers :
- 560 million euros per day is huge, but it’s still half of what Russia earned in March 2022shortly after the start of the
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