During war, Russia's revenues from sale of energy to EU countries almost doubled - Finnish Center for Energy and Clean Air Research
As of February 24, exports of fossil fuels from Russia by sea and pipelines are estimated at 63 billion euros, 71% of this amount (44 billion) is accounted for by the European Union.
This was stated in its analysis by the Finnish Center for Energy and Clean Air Research (CREA), which published the Center for Environmental Initiatives "Ekodia", Censor.NET reports.
The largest importers of Russian fossil fuels in the last two months are: Germany (9.1 billion euros), Italy (6.9 billion euros), China (6.7 billion euros), the Netherlands (5.9 billion euros), Turkey (4 , 1 billion euros) and France (3.8 billion euros).
Against the background of the war in Ukraine, supplies of coal from Russia increased by 20%, and liquefied natural gas - by 50%.
Gas purchases by the European Union through the pipeline increased by 10%.
At the same time, in the first three weeks of April, the total volume of oil supplies from Russia to foreign ports decreased by 20% compared to the pre-war period (January-February).
Russia is redirecting goods that are not accepted by European buyers. There is a clear increase in oil supplies to India, Egypt and other "unusual" for Russian exports.
However, supplies to new destinations are not enough, according to analysts, to offset the decline in exports to Europe.
Offshore fuel supplies accounted for about half of Russia's exports in value terms, with 25% coming to only six EU ports. These are Rotterdam (estimated cost of € 1,500 million) and Maasvlakte (€ 1,200 million) in the Netherlands, followed by Trieste (€ 1,000 million) in Italy, Gdansk in Poland and Zeebrugge and Antwerp in Belgium. Stopping supplies to these ports alone would eliminate 23% of maritime demand for Russian fossil fuels.
There is still a significant demand for Russian hydrocarbons from businesses. Analysts have identified deliveries to facilities or vessels related to oil companies: Exxon Mobil, Shell, Total, Repsol, BP, Lukoil, Neste, Orlen and Trafigura; energy companies RWE, KEPCO, Taipower, Tohoku Electric Power, Chubu Electric Power, TEPCO, Kyushu Electric Power; industrial enterprises Nippon Steel, POSCO, Formosa Petrochemical Corporation, Mitsubishi, Hyundai Steel, Sumitomo and JFE Steel.
It is noted that due to high oil and gas prices, Russia's revenues have risen even at a time when sanctions and export restrictions are harming Russia's economy. Thus, since the beginning of the full-scale invasion of Ukraine, Russia's revenues from the sale of fossil fuels to EU countries have almost doubled, according to a report by The Guardian.
"The continued import of energy is a major shortcoming in the sanctions imposed on Russia. Anyone who buys energy is involved in horrific violations of international law by the Russian military. We advise to stop the supply of Russian fuel to third parties, to set tariffs on imports from Russia, which will encourage buyers, if possible, not to buy in Russia and limit the price, paid to Russian suppliers in the spot markets, and to develop as soon as possible a plan to replace Russian fossil fuels with renewable energy sources, energy efficiency measures and energy conservation," said CREA analyst Lori Mileliworth.
