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Russia earns over USD 595 billion in revenue from fossil fuel exports

A view of St. Basil’s Cathedral at the Red Square in Moscow on 17 March 2020. Source: Sefa Karacan/Anadolu Agency
Russia earns over USD 595 billion in revenue from fossil fuel exports

Since 2022, Russia has earned over $595 billion in revenue from fossil fuel exports, the Russia Fossil Tracker project led by the Center for Research on Energy and Clean Air revealed.

The project tracks detailed ship movements and pipeline flows to bring into light the details of energy exports from Russia and how they changed after the full-scale invasion of Ukraine. 

According to the findings, the EU purchased fossil fuel from Russia worth over $195 billion and remains the largest importer of Russian coal, gas, and oil.

However, the Russia Fossil Tracker said the bloc’s imports of the fuels have steadily declined since the end of March, “being more than halved in monetary values compared to pre-invasion levels.”

“Whilst the EU remains the largest importer of Russian fossil fuels, it is now only marginally superior to China,” the project concluded. 

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