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Russia raking in profits from energy exports during war

The EU has bought more than half of Russia’s energy exports since the war in Ukraine broke out, netting the warring nation profit of EUR 158bn.

Rusland tjener på sin eksport af energi til EU, som er hovedaftager, men fredag skal EU's energiministre diskutere et prisloft over gassen. | Photo: HANNIBAL HANSCHKE/REUTERS / X02197

Russia has generated far more profits on energy exports since the war in Ukraine broke out than the nation did prior to the war, according a report by Finnish think tank Centre for Research on Energy and Clean Air (CREA), reports Euractiv.

Specifically, Russia has realized EUR 158bn in net profits from exporting oil, gas and coal in the six months following Feb. 24 when Russia invaded Ukraine. Of these, the EU’s offtake accounts EUR 85.1bn, which makes up more than half of the profits.

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