The European Union has spoken about its unwavering, unlimited support for Ukraine since Ukrainian President Voldymir Zelensky. A tragic visit Data published in the White House, but by independent research institutions, shows that the EU spent more on Russian oil and gas in 2024 than it spent on Ukraine.
Research Center on Energy and Clean Air (Crea), a group opposed to the burning of fossil fuels; Calculation European countries spent $23 billion in purchases of Russian fuel in 2024 compared to $19.6 billion in foreign aid provided to Ukraine.
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EU spending on Russian fuels fell 6% from the previous year, mainly due to a decline in prices. This is because the amount of Russian products imported by the EU has decreased by 1%.
Crea also found that Russian oil sales were booming in China, India and Turkey, with total fossil fuel revenues down 3% from 2023, falling 3% from 254 billion.
“Despite many sanctions, Russia's revenue in the third year fell by just 8% compared to the year before the Ukrainian invasion,” the report states. Furthermore, the impact of sanctions appears to be largely due to the skill of using the Russian Shadow Fleet to avoid price restrictions.
Crea recommends “thankrievable sanctions” against Russia, which could increase the likelihood of “cutting the Kremlin revenues” by up to 20%, but these sanctions must break the EU's dependence on Russia's fuel. Although European purchases have declined significantly since Russia invaded Ukraine in 2022, Europe still offers about a quarter of Russia's fossil fuel export revenue.
“Purchase of Russian fossil fuels is very clearly similar to sending financial aid to the Kremlin and enabling it to invade,” says Vabihav Raghunandan, analyst at Creer. I said UK Guardian.
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Ragnandan said the practice of importing fossil fuels from Russia “must cease to halt immediately to ensure not only Ukraine's future, but also Europe's energy security.”
Guardian Christoph Trebesch of Ifw Kiel Economist not only put Europe into Russian war machinery by purchasing Moscow oil and gas, but also argues that its contribution to Ukraine is actually well below historical levels in conflicts such as Kuwait's defense against the Iraqi invasions of 1990 and 1991.
Jonathan Bass, founder of Argent LNG I said Fox News is that it is unlikely that the European Union would dedicate the kind of sacrifice imagined for all professions of infinite devotion to Ukraine.
“Russian pipeline gas was cheaper than LNG prices, even with geopolitical risks. European buyers feel that Russian gas is economical,” Bass explained. This is because Biden imposes major restrictions shortly after he took over the US liquefied natural gas (LNG) industry.
President Donald Trump raised Biden's orders at the same rate when he took office this year, but it will take a while for the US LNG industry to recover.
Even so, Bass warned that Europeans had argued that they were “afraid of relying on political changes in America.” He also said that Europe's “distribution infrastructure is not optimized for imports from elsewhere” as the EU relies on gas pipelines from Russia.
Conversely, the American energy industry is uncertain about its political future, and it is unclear what President Trump wants, and as he is dedicated to ending the war through diplomacy with Russia, it could risk a major investment in exports to America to Europe. If the war ends, the EU has a great incentive to resume purchasing cheap Russian fuels through the pipeline at the previous level.
“All we need is to ensure the direction and supply of what the administration wants us in the gas LNG business. Don't give us Biden,” Bass said.
“If you want to supply them from Russia, that's the intention. Other markets will be found. But we don't need any more flip-floping. Biden set up this whole Russian-Ukraine war when he stopped American reliance on energy,” Bass concluded.
