European Union was the top importer for Russian fossil fuel exporters during six months of Moscow's Ukraine onslaught, followed by China, Finland-based think tank reports
Russia raked in a whopping $158 billion in energy exports in the six months following its war on Ukraine, with the EU accounting for more than half, a think tank has said.
"Surging fossil fuel prices mean that Russia's current revenue is far above previous years' level, despite the reductions in this year's export volumes," said the Finland-based organisation said on Tuesday. "Fossil fuel exports have contributed approximately 43 billion euros to Russia's federal budget since the start of the incursion, helping fund war crimes in Ukraine," said CREA.During this period, the CREA estimated that the European Union was the top importer of Russian fossil fuel exporters, at 84.6 billion dollars. China followed at 34.7 billion dollars and Türkiye at 10.6 billion dollars.
"The EU must ban the use of European-owned ships and European ports for shipping Russian oil to third countries, while the UK needs to stop allowing its insurance industry to participate in this trade," said the CREA.
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