Russia’s revenue from oil and gas exports reached record highs during the first 100 days of the Russo-Ukraine War. In the midst of the war, Russia made a huge profit by selling oil. According to one report, Russia earned 93 billion euros ($98 billion) even during the war, most of which came from EU clients.
Western countries imposed various sanctions on Russia for waging war against Ukraine. Despite this, Russia has earned a tremendous amount from the export of fuel. According to reports, Russia earned $ 98 billion from fossil fuel exports in the 100 days between the war with Ukraine. The European Union imports most of the fossil fuels from Russia.
The EU bought 60 billion dollars worth of oil: According to the report, the EU bought 61 percent of Russia’s fossil fuel exports during the first 100 days of the war, worth about 57 billion euros ($ 60 billion). The European Union is the most dependent on Russian fuel, but the union currently aims to cut gas exports from Russia by two-thirds in 2022.
China leads the list of countries: According to the report of the Center for Research on Energy and Clean Air (CREA), an independent center based in Finland, China is the largest customer of Russian oil, gas and coal among the countries, which has received 12.6 billion euros from Russia. Bought fuel. It is followed by Germany (12.1 billion euros) and Italy (7.8 billion euros) in second and third place. The European Union agreed last month to halt most Russian oil imports, but Russian gas is not currently banned.
Many companies have stopped exports from Russia, but some countries like China, India, UAE and France have increased their purchases from Russia. According to CREA, Russia’s average export price is about 60 percent higher this year than last year. After the war with Ukraine, Russia announced a waiver on crude oil. The European countries got the most benefit from it. The European Union imports 27 percent of its oil from Russia.