Since the beginning of the Russian war of aggression in Ukraine, Europe’s energy dependence has been a hot topic. A short-term exit is extremely difficult, which means that billions of euros still flow to Russia, for example for oil.
The war in Russia is mainly financed with the proceeds from the sale of energy. Last year, Putin made $110 billion from oil sales and $60 billion from gas. The largest customers are in Europe (see chart below), with Austria in 8th place for gas with 7.8 billion m3.
As a result, senior politicians continue to call for a total boycott of Russian supplies, regardless of the economic damage to buyers. It has been decided not to use coal, but that will only yield four billion euros. The embargo will not take effect until August.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
