Russia Earns US$ 98 Bn in the last 100 Days by Fuel export
New Delhi: With several sanctions and trade disputes with the big economies, the government of Russia has earned around US$ 98 billion from the fossil fuel export in the last 100 days. Damage Russia economically by imposing restrictions may not be a good option for the US and other countries.
According to the Centre for Research on Energy and Clean Air, Russia’s average export prices were about 60 percent higher than last year.
“Russia earned 93 billion euros ($98 billion) from fossil fuel exports during the first 100 days of its war in Ukraine, with most sent to the European Union. According to the report, the EU took 61 percent of Russia’s fossil fuel exports during the war’s first 100 days, worth about 57 billion euros ($60 billion),” the latest research said.
The top importers were China at 12.6 billion euros, Germany (12.1 billion), and Italy (7.8 billion).
The report from the independent, Finland-based Centre for Research on Energy and Clean Air (CREA) comes as Kyiv urges the West to sever all trade with Russia in the hopes of cutting off the Kremlin’s financial lifeline.
Russia’s exports plummeted in May, with countries and companies shunning its supplies over the Ukraine invasion, the global rise in fossil fuel prices continued to fill the Kremlin’s coffers, with export revenues reaching record highs.
Some countries have upped their purchases from Moscow, including China, India, the United Arab Emirates, and France, the report added.
(Vinayak)
