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A recent report by the Finnish energy and environment research group ‘CREA’ reveals that the EU has taken 61 percent of Russia’s energy exports, worth about $ 65 billion.<\/p>\n<\/div>\n
In total, the value of Russian energy exports during the first 100 days of the war with Ukraine amounted to more than $ 100 billion.<\/p>\n
The other major importers were China with $ 13 billion, Germany with $ 12 billion in imports and Italy with $ 9 billion.<\/p>\n
The development comes as Kiev calls on the West to sever all trade ties with Russia in order to cut off funding to the Kremlin.<\/p>\n
And in fact at the beginning of the month the EU agreed to ban most of Russia’s oil imports even though the continent is highly dependent on them.<\/p>\n
Russia’s revenue from fossil fuels comes from the sale of crude oil, followed by pipeline oil, oil by-products and further liquefied petroleum gas and coal.<\/p>\n
Although Russia’s energy exports have been declining following the military strike on Ukraine, rising global prices have boosted revenues for the Kremlin.<\/p>\n
Some of the major buyers have increased the volume of imports from Russia such as China, the United Arab Emirates and France, the report said.<\/p>\n
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