Russia earns $98b from fuel exports in 100 days of Ukraine war: Report theSun theSundaily exports economy RussiaWar Ukraine EuropeanUnion
A worker checks pipes at a gas compressor station on the Yamal-Europe pipeline near Nesvizh, some 130 km southwest of Minsk December 29, 2006. REUTERSPIX: Russia earned 93 billion euros from fossil fuel exports during the first 100 days of its war in Ukraine, with most sent to the European Union, according to research published Monday.
Earlier this month, the EU agreed to halt most Russian oil imports, on which the continent is heavily dependent. Though the bloc aims to reduce gas shipments by two-thirds this year, an embargo is not in the cards at present. Even as Russia's exports plummeted in May, with countries and companies shunning its supplies over the Ukraine invasion, the global rise in fossil fuel prices continued to fill the Kremlin's coffers, with export revenues reaching record highs.Some countries have upped their purchases from Moscow, including China, India, the United Arab Emirates and France, the report added.
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