In 2024, the EU spent €21.9 billion on Russian oil and gas, which is 39% more than the total financial aid of €18.7 billion provided to Ukraine, according to Politeka.net.
This information comes from The Guardian, citing the Centre for Research on Energy and Clean Air (Crea) and the Kiel Institute for the World Economy.
During the third year of the war, Russia earned €242 billion from fossil fuel exports, with its total revenue since the invasion nearing €1 trillion. Despite sanctions, Russia has adapted to new conditions, particularly by using a "shadow fleet" for fuel transportation, which helps maintain high revenue, reports Politeka.
Interestingly, European countries have been less generous in their aid to Ukraine compared to previous international conflicts. As noted by Christoph Trebesch, an economist at the Kiel Institute, assistance to Kyiv does not exceed even 0.1% of the GDP of many European countries. The Crea report also indicates that Russia is attempting to circumvent sanctions by transporting fuel on uninsurable old tankers, with unknown vessels accounting for about one-third of fossil fuel export revenues.
At the same time, the European Union is trying to strengthen sanctions against Russia. EU ambassadors have agreed on new measures against Russia's "shadow fleet," as well as restrictions on gas supplies through the "TurkStream" pipeline. However, these sanctions have yet to result in a significant reduction in imports of Russian energy resources, and the situation regarding liquefied natural gas (LNG) imports does not offer hope for immediate changes.
Source: theguardian.