Moscow: It’s been more than two months since Russian military invaded Ukraine with full force. The 67-day battle has levelled cities, killed thousands of people, and forced an estimated figure of somewhere five million Ukrainians to flee their homes. According to a recent analysis by a Finnish think group, fossil fuel exports were one of the primary drivers in Russia’s invasion of Ukraine.
In its analysis, the Centre for Research on Energy and Clean Air delves into Russia’s fossil fuel exports, with the European Union as a major benefactor. This comes as UN Secretary-General Antonio Guterres accused the fossil fuel lobby of using the Ukrainian crisis for their own gain.
1. Since the invasion began on February 24, Russia has exported fossil fuels worth 63 billion euros via cargo and pipelines. The European Union, which is considering imposing a sixth round of penalties, imported 71% of this, or 44 billion euros.
2. Coal accounted for 30% of the European Union’s contribution, while crude oil accounted for 50%, LNG accounted for 80%, oil products accounted for 70%, and pipeline gas accounted for 90%.
3. Germany (9.1 billion Euros), Italy (6.9 billion Euros), the Netherlands (5.6 billion Euros), Turkey (4.1 billion Euros), and France were the top importers of Russian fossil fuels (3.8 billion Euros). China bought fossil fuels worth 6.7 billion Euros.
4. According to the CREA analysis, a fifth of Russian fossil fuel imports entered the EU through only six ports: Rotterdam and Massvlakte in the Netherlands, Trieste in Italy, Gdansk in Poland, and Zeebrugge in Belgium.
5. According to the research, sanctions reduced oil supply to the EU by 20% and coal shipments by 40%.
Liquified Natural Gas (LNG) deliveries to the European Union increased by 20%. Coal and LNG exports to countries outside the EU surged by 30% and 80%, respectively.
7. According to the source, Moscow is currently straining to redirect cargoes that have not been purchased by European purchasers, resulting in a significant increase in the number of boats departing Russian ports with no apparent destination.
8. Oil shipments to India, Egypt, and other nations have increased as a result of Russian exports. However, according to the research, sales to these nations are insufficient to compensate for the drop in exports to European clients.
9. In the two-month period, seaborne cargo accounted for over half of Russia’s exports in terms of value, according to the study.
10. The Centre for Research on Energy and Clean Air asked all governments and corporate customers of Russian oil to stop buying it and for sanctions against Russia to be strengthened.