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Russia earns USD98B from fuel exports in 100 days of war

PARIS (AFP) – Russia earned USD98 billion from fossil fuel exports during the first 100 days of its war in Ukraine, with most sent to the European Union (EU), according to research published yesterday.

The report from the independent, Finland-based Centre for Research on Energy and Clean Air (CREA) comes as Kyiv urges the West to sever all trade with Russia in the hopes of cutting off the Kremlin’s financial lifeline.

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.

According to the report, the EU took 61 per cent of Russia’s fossil fuel exports during the war’s first 100 days, worth about USD60 billion.

Workers inspect the pipelines and oil storage tanks of a 1,000-kilometre-long China and Russia crude oil pipeline. PHOTO: AP