Russia Is No Longer the Main Exporter Of Oil To Europe

by Roman Cheplyk
Friday, March 31, 2023
Russia Is No Longer the Main Exporter Of Oil To Europe

Due to sanctions the Russian Federation has lost up to 4% in the joint list of exporters and took 2nd place

Europe imposed restrictions on the aggressor country that started the war in Ukraine. Sanctions have affected even the most important goods for Europe and the Russian Federation – oil. Countries supported the establishment of a limit on oil prices and the search for alternative ways. Russia can no longer blackmail the world with the oil issue. In less than a year, the Russian Federation ceased to top the list of leaders in combustible suppliers. 

Due to sanctions pressure, Moscow lost 4% of orders and took 2nd place in the ranking of oil exporters. Before the full-scale invasion, Russia sold between 24% and 31% of the total to the EU. But now, the United States has become a leader instead of the Russian Federation. As of the end of 2022, America has transferred 18% of its total oil needs to European countries.

This experience shows that Russia is not as terrible as it seems and how the Kremlin characterises itself. Europe can gain complete independence from Russian goods and services if it so desires. Because there is always an alternative.

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