Jens Asbjørn Bøgen
Only two of them import crude oil, though.
Only two of them import crude oil, though.
What is happening?
Despite ongoing pledges to cut ties with Russian energy, EU countries have continued sending over €980 million per month to the Kremlin for fossil fuels since June, according to a new report.
The revelation comes amid growing pressure to isolate Vladimir Putin’s regime economically as the war in Ukraine drags on.
Trump rebukes EU over Russian energy purchases
During a press conference at Windsor Castle alongside UK Prime Minister Sir Keir Starmer, US President Donald Trump criticised EU nations for continuing to buy energy from Russia.
Trump described it as a key factor in funding the war in Ukraine, saying Putin is “going to have no choice” but to withdraw if oil prices drop.
“Putin let me down”,” Trump tells reporters
Trump expressed disappointment with Putin, accusing him of showing no interest in a peace deal to end the war.
“Very simply, if the price of oil comes down, Putin’s going to drop out,” he said.
Trump also claimed to have warned India and China about their continued purchases of Russian oil.
Five EU Nations lead in Russian energy imports
A report by the Centre for Research on Energy and Clean Air (CREA) revealed that in August alone, five EU Nations paid €979 million to Russia for fossil fuels.
Three of them only bought liquefied natural gas (LNG), which is not sanctioned by the EU.
#5 Belgium
According to the report, Belgium purchased €64 million of LNG from Russia in August.
Belgium did not buy any other fossil fuels from Russia.
#4 Netherlands
Coming in fourth on the list is the Netherlands, but it’s nearly a tie with Belgium, as the Netherlands purchased €65 million of LNG from Russia in August.
#3 France
French President Emmanuel Macrons has repeatedly slammed Putin and is even one of the founders of the Coalition of Willing aiming to provide security guarantees to Ukraine.
However, France bought €157 million of LNG from Russia in August.
Note: Not all of the LNG is consumed domestically, as some of it is being delivered to other countries.
#2 Slovakia
France, Belgium and the Netherlands only buy LNG from Russia, Slovakia, coming in second on the list, buy both pipeline gas and crude oil from Russia.
In August, the Eastern European country spend €276 million on importing those fossil fuels from Russia.
#1 Hungary
The biggest EU-importer of Russian fossil fuels is Hungary with a staggering import of €416 million being spend on Russian crude oil and pipeline gas in August alone.
Natural gas makes up majority of EU purchases
The report found that natural gas, which is not fully sanctioned by the EU, accounted for more than 61% of the imports.
Deliveries came primarily via pipelines or as liquefied natural gas (LNG). The remaining imports were mostly crude oil.
Exemptions keep Russian oil flowing to some EU States
Despite EU bans on most Russian oil, exemptions remain.
The Druzhba pipeline’s southern branch still supplies crude to Hungary and Slovakia, both of which are exempt from the broader embargo.
This allows Russian oil to keep flowing into the heart of Europe.
Shift in global oil flows
Since January 2023, the EU has boycotted most Russian seaborne oil, prompting a massive rerouting of crude exports.
China, India, and Turkey have emerged as the largest buyers of the oil that once flowed to Europe, according to data from the Associated Press.
Trump calls for full NATO ban on Russian oil
Trump has gone further in his stance, saying the war could end if all NATO countries stopped buying Russian oil.
He also called for tariffs of 50% to 100% on China for its continued purchases of Russian petroleum, framing economic pressure as the key to halting the war.
This article is made and published by Jens Asbjørn Bogen, which may have used AI in the preparation
