In the 100 days since its invasion of Ukraine on February 24, Russia’s revenues from fossil fuel exports rose to 93 billion euros – about $ 97 billion – according to a report by the Center for Energy and Clean Air Research. China was the largest importer, buying more than $ 13 billion worth of fossil fuels during the period, followed by Germany with about $ 12.6 billion, according to a CREA report released on Monday. In the first 100 days of the war in Ukraine, France was the largest importer of Russian liquefied natural gas, according to research based in Finland. center was found, while Germany bought most of the Russian pipeline gas. China imported the most oil from Russia and Japan imported the most coal. As Western governments sought to pressure Moscow and many countries to wean themselves off Russian energy, Russia’s fuel export volume fell by 15% in May from the pre-invasion period. However, high fuel prices caused by rising global demand have kept money in Moscow’s coffers, the report said, noting that Russia’s export prices were on average 60 percent higher than last year. And some countries increased imports of Russian fuel during the first 100 days of the war, such as France, India, China, the United Arab Emirates and Saudi Arabia, the research center said. Average US gas prices exceed $ 5 a gallon as rising energy costs squeeze the economy France, Belgium and the Netherlands benefited from the liquefied natural gas and crude oil market in the spot market, he added. The purchases were made outside of pre-existing contracts, “representing an active purchase decision”, according to the report. The French Ministry of Ecology challenged the methodology of the report. He said the country was a popular fuel import destination with four liquefied natural gas terminals, but that did not mean it was the final destination for gas. In an e-mail response to questions about spot-market purchases, a ministry spokeswoman said: “The French authorities are determined, in close cooperation with all their European partners, to diversify their sources of supply, to reduce their dependence. [on Russian fuel] and reduce gas consumption “. A spokesman for the Dutch Ministry of Finance and Climate Policy, Tim van Dijk, said in an email that “it would be better to ask the companies involved as they know all the details”. Belgian Ministry of Energy did not respond to a request for comment early Tuesday. After weeks of negotiations, the European Union reached an agreement late last month on the phasing out of Russian oil, but with the exception of pipeline deliveries, as a concession to Hungary. Rising war crimes and horrific images of corpses on the streets of Bucha, on the outskirts of Kiev, prompted the 27-nation bloc to announce the phasing out of Russian coal and to discuss an oil embargo. EU agrees to phase out Russian oil, but excludes pipeline deliveries European Council President Charles Michel said the agreement to end maritime deliveries within months would cover more than two-thirds of Russia’s oil imports, cutting off “a huge source of funding” for Russia’s “war machine”. The United States banned imports of Russian oil in March. On Sunday, President Biden blamed Russia’s invasion of Ukraine for rising U.S. gas prices – which topped the national average of $ 5 a gallon over the weekend – telling reporters it was “outrageous.” the war in Ukraine “. However, US Energy Envoy Amos Hochstein told lawmakers last week that Russia could have more fossil fuel revenues than before the conflict, with global price hikes offsetting the effects of Western sanctions and demand higher than expected as lockdowns loosen around the world. As Russia’s war in Ukraine pushes already rising inflation in much of Europe to record lows, some European officials have called for measures to mitigate rising food and energy costs. Putin believes the West will be the first to blink in the war of attrition, say Russian elites The Washington Post reported that Russian President Vladimir Putin is digging into a long war of attrition and is seeking to use economic pressure, such as blocking Ukrainian grain exports, to erode Western support for Kyiv, according to members of Russia’s economic elite. The Kremlin hopes the West may lose focus on tackling the invasion, especially as global energy costs rise, The Post reported. The director of the US National Intelligence Service, Avril Haines, hinted at such concerns last month when she told senators that Putin was prepared for a protracted conflict and “probably based on the US and EU determination to weaken as deficiencies weaken.” , inflation and energy shortages are deteriorating. ”
