The European Union's liquefied natural gas (LNG) imports from Russia have been increasing since the start of the Russia-Ukraine war in February 2022, even as EU sanctioned the Nayara Energy refinery in India last month owing to the 49.13% stake held in it by Russian oil firm Rosneft, saying profits from the refinery were fuelling Moscow's war.
EU's imports of Russian LNG increased 9% year-on-year since 2022, while imports from other sources including the US declined, according to a study by the Finland-based independent research organisation Centre for Research on Energy and Clean Air (CREA).
EU paid $8.5 billion for Russian LNG in 2024, having struggled to attain sufficient non-Russian gas supply. EU's gas imports from Russia were 9.6% higher in 2024 compared to 2021, according to CREA, which tracks Russian energy exports among other fossil fuel exports globally. In 2024, EU's LNG imports from Russia reached a record 16.5 million tonnes, surpassing the previous record of 15.21 million tonnes in 2022, as per CREA data.
Since the beginning of the Russia-Ukraine war, EU member nations have paid more than 212 billion euros for importing Russian fossil fuels, according to the research organisation.
Russian energy firm Gazprom's average daily natural gas supplies to Europe increased 37% month-on-month in July, according to some reports. In 2024, EU had a bilateral goods trade of 67.5 billion euros with Russia. In addition, in the previous year, it had a services trade of an estimated 17.2 billion euros. This was significantly more than India's total trade with Russia that year or subsequently.
Europe-Russia trade includes not just energy but also fertilisers, mining products, chemicals, iron and steel and machinery and transport equipment, according to a statement by India's external affairs ministry.
EU's imports of Russian LNG increased 9% year-on-year since 2022, while imports from other sources including the US declined, according to a study by the Finland-based independent research organisation Centre for Research on Energy and Clean Air (CREA).
EU paid $8.5 billion for Russian LNG in 2024, having struggled to attain sufficient non-Russian gas supply. EU's gas imports from Russia were 9.6% higher in 2024 compared to 2021, according to CREA, which tracks Russian energy exports among other fossil fuel exports globally. In 2024, EU's LNG imports from Russia reached a record 16.5 million tonnes, surpassing the previous record of 15.21 million tonnes in 2022, as per CREA data.
Since the beginning of the Russia-Ukraine war, EU member nations have paid more than 212 billion euros for importing Russian fossil fuels, according to the research organisation.
Russian energy firm Gazprom's average daily natural gas supplies to Europe increased 37% month-on-month in July, according to some reports. In 2024, EU had a bilateral goods trade of 67.5 billion euros with Russia. In addition, in the previous year, it had a services trade of an estimated 17.2 billion euros. This was significantly more than India's total trade with Russia that year or subsequently.
Europe-Russia trade includes not just energy but also fertilisers, mining products, chemicals, iron and steel and machinery and transport equipment, according to a statement by India's external affairs ministry.
