Atilla
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A non-partisan research post - London
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How the West is helping Russia to fund its war on Ukraine
How much is Russia still making?
Proceeds made from selling oil and gas are key to keeping Russia's war machine going.
Oil and gas account for almost a third of Russia's state revenue and more than 60% of its exports.
In the wake of the February 2022 invasion, Ukraine's allies imposed sanctions on Russian hydrocarbons. The US and UK banned Russian oil and gas, while the EU banned Russian seaborne crude imports, but not gas.
Despite this, by 29 May, Russia had made more than €883bn ($973bn; £740bn) in revenue from fossil fuel exports since the start of the full-scale invasion, including €228bn from the sanctioning countries, according to the Centre for Research on Energy and Clean Air (CREA), external.
The lion's share of that amount, €209bn, came from EU member states.
EU states continued importing pipeline gas directly from Russia until Ukraine cut the transit in January 2025, and Russian crude oil is still piped to Hungary and Slovakia.
Russian gas is still piped to Europe in increasing quantities via Turkey: CREA's data shows that its volume rose by 26.77% in January and February 2025 over the same period in 2024.
Hungary and Slovakia are also still receiving Russian pipeline gas via Turkey.
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I support stopping the war and see Russia as a European ally. A better one than the US.
Trade and good relations always better than disagreements and war.