Russia Earns $97bn On Energy Exports Since Ukraine War Invasion

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Russia Earns $97bn On Energy Exports Since Ukraine War Invasion

According to a report Russia earned nearly $100    billion dollars from oil and gas exports during the first one hundred days of the war in Ukraine.

The independent Centre For Research on Energy and Clean Air found revenues have been falling since March, as many countries shunned Russian supplies, but remain high.

It also warned of potential loopholes in efforts to curb imports from Russia.

The European Union, United States and United Kingdom are among those to have pledged to cut Russian imports.

However, the CREA report found Russia still earned $97bn in revenue from fossil fuel exports in the first 100 days of the Ukraine conflict, from February 24th to June 3rd

The European Union made up 61% of these imports, worth approximately $59bn.

Overall, exports of Russian oil and gas are falling and Moscow’s revenue from energy sales has also declined from a peak of well over $1bn a day in March.

However, revenues still exceeded the cost of the Ukraine war during the first 100 days – with the CREA estimating that Russia is spending around $876m per day on the invasion.