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  • rmacculloch

Who's funding Russia's war in Ukraine? The European Union, of course.

The BBC report today:


"Russia earned nearly $100 billion from oil & gas exports during the first 100 days of the war in Ukraine, according to the independent Centre For Research on Energy & Clean Air (CREA). Revenues have been falling since March, as many countries shunned Russian supplies, but remain high .. the CREA report found Russia still earned $97bn in revenue from fossil fuel exports in the first 100 days of the Ukraine conflict, from 24 February to 3 June. The European Union made up 61% of these imports, worth approximately $59 billion".


"[Russia's oil & gas revenues] exceeded the cost of the Ukraine war during the first 100 days - with the CREA estimating Russia is spending $876m per day on the invasion .. The report points out as Russia seeks new markets for oil, much of it is being transported by ship - and the majority of the vessels used are owned by European & US companies".


It beggars belief.


Sources:

https://www.bbc.com/news/business-61785111