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How the West is helping Russia to fund its war on Ukraine

www.bbc.com

How the West is helping Russia to fund its war on Ukraine

Data analysed by the BBC show that Ukraine's Western allies have paid Russia more for its hydrocarbons than they have given Ukraine in aid.

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).

The lion's share of that amount, €209bn, came from EU member states.

5 comments

  • These stories about EU (and the west) are supporting Russia because we still buy gas and oil from them are total bullshit.
    The entire energy sektor in Russia is now running at a deficit, all because of EU boycott, and sanctions on the shadow fleet.
    Even gazprom that used to be the most profitable company in Russia, is now running at huge losses!

    EU is even planning to vain itself even further from dependency on Russian gaz, and is even planning to support this effort for some of the countries this will hit hardest.

    On top of that EU is planning to reduce the maximum price allowed to pay for Russian oil to only $40. Which will decrease the price they get from other countries too, because Russia is desperately needing the currency, and they can't afford to say no to a bad deal.

    The article includes imports from the start of the war, which is the majority import for EU and allies, obviously it takes time to respond, so most of this couldn't be helped, and EU very quickly reduced imports, and is still planning to decrease it.
    Such restructuring is a MASSIVE undertaking, and EU did a lot in record time. Especially Germany that immediately began building the necessary infrastructure to take LNG from USA instead of Russian gas.

    Also the graph that shows aid to Ukraine is decidedly wrong, And claims Ukraine only received $73bn when in fact it's €158bn.
    https://www.eeas.europa.eu/delegations/united-states-america/eu-assistance-ukraine-us-dollars_en?s=253

    Even though some of it are loans "in the form of highly concessional loans", those loans are generally planned to be paid from other sources than Ukraine if possible.

    I must admit I didn't read any further, because the article seems more misleading than informing.
    It kind of looks like a propaganda piece designed to sow discord and undermine the "Coalition of the Willing".
    I wonder who could have an interest in that?