Russia ‘has nearly doubled fossil fuel revenues since the start of the war’

Germany, Italy, China, the Netherlands and Turkey are the biggest importers of Russian energy, according to a new report

Big Zero Report 2022

Despite sanctions, Russia has almost doubled its revenues coming from fossil fuel exports since the 24th of February which marked the start of a grim new chapter in history, the war in Ukraine.

That’s according to research by the Centre for Research on Energy and Clean Air (CREA) which suggests €63 billion (£57.2m) worth of fossil fuels was exported from Russia since the beginning of Russia’s invasion.

The report highlights that of the total amount, 71% was imported to EU countries, worth around €41 billion (£34.5bn).

The biggest importers were Germany with €9.1 billion (£7.6bn) worth of imports, Italy with €6.9 billion (£5.8bn), China with €6.7 billion (£5.6bn), the Netherlands with €5.6 billion (£4.7bn) and Turkey with €4.1 billion (£3.4bn).

A few days ago, official data showed that the amount of Russian gas imported to the UK soared by 37% last year.

The head of Ukraine’s delegation IPCC Svitlana Krakovska, said: “Climate change and conflict have the same roots, fossil fuels and our dependence on them.

“We will not surrender in Ukraine, and we hope the world will not surrender in building a climate-resilient future.”

In case you missed it, listen to what Ukrainian activists told ELN about the need to “end the fossil fuel addiction that is feeding Russia’s war machine”.

If you enjoyed this story you can sign up to our weekly email for Energy Live News – and if you’re interested in hearing more about the journey to net zero by 2050, you can also sign up to the future Net Zero newsletter. 

Latest Podcast