The findings were published as Europe comes under increasing pressure to ban Russian oil imports and expedite its move away from Russian gas to stop enriching the Kremlin, and indirectly financing the war in Ukraine.
Russian revenues from fossil fuel exports to the European Union soared during the first two months of the Ukraine invasion, despite some buyers shunning Russian energy and finding alternative suppliers, a report by the Centre for Research on Energy and Clean Air shows.
European Union imports of Russian fossil fuels accounted for 44 billion euros from February 24, the day Russia launched its invasion, to April 24. That's more than double the value of Russian energy imported by EU states during the same two-month period last year, CREA lead analyst Lauri Myllyvirta told CNN. Higher prices, rather than volumes, accounted for most of that increase.
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