Russian hydrocarbons: imports exceeded 100 billion euros in Europe

Despite the reduction in trade due to the sanctions, the European Union continues to import Russian hydrocarbons.

According to the report by CREA, a think tank on energy and clean air, since the beginning of the war, Russia has pocketed 100 billion euros thanks to its energy exports, of which Europe has been the main recipient.

AFP - KIRILL KUDRYAVTSEV

Text by: RFI Follow

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Despite the reduction in trade due to the sanctions, the European Union continues to import Russian hydrocarbons.

According to the report by CREA, a think tank on energy and clean air, Russia has pocketed 100 billion euros since the start of the war thanks to its energy exports, of which Europe has been the main recipient.

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Despite their 14% drop in September, Russian fossil fuel exports are still a huge source of income for Moscow.

Half of the importers are European, starting with the Netherlands and Germany with more than one billion euros of imports each, or even France and its 600 million euros of imports.

The products concerned are mainly LNG - liquefied natural gas - imported via long-term contracts. 

⚠️Our tracker for 🇪🇺#EU payments to 🇷🇺#Russia for #FossilFuels has hit EUR 100 billion.

See our complete analysis highlighting the implications and solutions concerning this macabre milestone here:https://t.co/yO7vP2JE8v

— Center for Research on Energy and Clean Air (@CREACleanAir) October 4, 2022

Because despite the

by the Russian giant Gazprom to several countries of the European Union, including Bulgaria and Poland, Europe continues to import crude oil, petroleum products, LNG and natural gas Russian via gas pipelines. 

Halt soaring energy prices

If the Europeans were to end up

, the impact on Russian revenue would be tens of billions of euros.

But not only.

This would also serve to curb soaring energy prices.

The European Commission should indeed propose this option during a summit on Friday 7 October.

If imposed, the cap will be part of a series of measures that Europeans will try to adopt in the coming months.

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