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Despite the sanctions and statements about reducing dependence on Russian energy, the European Union spent €22 billion on oil and gas from Russia in 2024. This is 39% more than the total financial assistance package to Ukraine, which amounted to €19 billion. These data are contained in a new study by the Centre for Research on Energy and Clean Air (CREA), The Guardian reports.
The EU continues to buy Russian resources
According to analysts, the purchase of Russian fossil fuels is actually tantamount to financing the Kremlin’s war. This is contrary to the official policy of the bloc, which declares support for Kyiv and tightens sanctions against Moscow.
Sanctions are working, but there are loopholes
To circumvent the restrictions, Russia uses a “ghost fleet” – old, poorly insured tankers that transport oil illegally. Approximately a third of the Kremlin’s export revenues come from such schemes.
What is the EU planning?
As part of the 16th package of sanctions approved last week, the EU wants to close loopholes:
- Tighter control over imports of Russian oil products refined in other countries;
- Restrictions on gas supplies through the TurkStream pipeline;
- Reduced imports of Russian liquefied natural gas (LNG).
CREA estimates that such steps could reduce Russia’s energy revenues by 20%.
