EU spends more on Russian oil and gas than on aid to Ukraine – media

According to the Guardian, citing a report by the Centre for Research on Energy and Clean Air (CREA), published for the war’s third anniversary, the numbers tell a clear story.

EU nations have purchased €21.9 billion worth of Russian oil and gas over three years of war. Meanwhile, the Kiel Institute for the World Economy’s tracker shows that this figure is one-sixth higher than the €18.7 billion the EU allocated to Ukraine in financial aid in 2024.

Analysts argue that buying Russian fossil fuels is essentially the same as funding the Kremlin’s war effort.

“[It’s] a practice that must stop immediately to secure not just Ukraine’s future, but also Europe’s energy security,” said Vaibhav Raghunandan, a co-author of the report.

Researchers calculated the total value of Russian fuel sold globally in the war’s third year. In 2024 alone, the EU spent 39% more on Russian fossil fuel imports than it provided to Ukraine. The aid figure excludes military and humanitarian assistance.

Economist Christoph Trebesch pointed out a stark contrast between current aid levels and those in past conflicts. European donors are contributing less than 0.1% of GDP per year on average.

“Many countries were more generous in past conflicts. Germany, for example, mobilised much more aid, more quickly for Kuwait’s liberation in 1990/91 than it has for Ukraine in a comparable time period,” he noted.

The report also found that Russia made €242 billion from global fossil fuel exports in the third year of the invasion. Since the war began, total revenues have neared the €1 trillion mark, with Moscow adapting to sanctions.

Russia continues to rely on oil and gas for up to half of its tax revenue and is dodging restrictions by using a fleet of old, uninsured tankers. According to CREA, these unidentified ships account for about a third of Russia’s fossil fuel export revenue.

However, researchers predict a 20% drop in Russia’s fossil fuel income as sanctions tighten. Measures include closing the “refining loophole” that lets Europe buy Russian oil after it’s processed in another country and further restricting pipeline gas flows.

• As the Financial Times previously reported, EU imports of Russian liquefied natural gas hit a record high in 2024 — despite the bloc’s pledge to reduce its dependence on Russian energy.
• Later, it was revealed that EU shipyards were servicing Russian ice-class tankers, offering dry-docking services that helped Moscow keep gas flowing through the Arctic despite Western sanctions.