Since the start of the war, Russia has doubled its revenue from energy sales to the EU

Kostia Andreikovets

Since the start of the war against Ukraine, Russia has doubled its revenues from the sale of gas, oil and coal to the European Union. In two months, Russia received € 63 billion.

This was announced by the Finnish Center for Research on Energy and Clean Air (CREA).

In the two months of the war, Moscow sold € 44 billion worth of energy to the European Union, twice as much as in the same period in 2021. At the same time, procurement volumes decreased — oil imports to the EU fell by 20% and coal — by 40%. Gas imports have grown significantly.

The main buyer is still Germany. During the two months of the war, it imported € 9 billion in energy.

Russia continues to benefit from the EUʼs energy dependence and compensates for the loss of sales by rising prices. CREA says the new sanctions will further raise gas prices, nullifying Brusselsʼ efforts.