Russia Earned €1.1 Trillion from Fossil Fuel Exports Since Ukraine Invasion, CREA Data Shows

Key facts

• Russia earned approximately €1.1 trillion from fossil fuel exports since February 2022.
• China was the largest buyer, paying €313.4 billion.
• The European Union purchased €227.8 billion worth of Russian fossil fuels.
• India spent €168.5 billion on Russian energy imports.
• Three people were killed and 15 wounded in Russian attacks on Ukraine on Sunday.
• Ukrainian President Zelensky vowed to intensify strikes on Russian energy facilities.
• Ukraine struck a Russian missile cruiser and three shadow fleet tankers.

Sanctions Fail to Curb Russia's Energy-Fueled War Machine

Russia has amassed approximately €1.1 trillion in revenue from fossil fuel exports since launching its full-scale invasion of Ukraine in February 2022, according to data from the Centre for Research on Energy and Clean Air (CREA). The staggering sum underscores how international sanctions have failed to sever Moscow's primary source of war financing. Despite repeated rounds of punitive measures, Russia's energy sector continues to generate massive income, with export flows shifting from Europe to Asia. The CREA analysis reveals that China, the European Union, and India have become the top three buyers, collectively accounting for over €709 billion in purchases.

China, EU, and India Lead Fossil Fuel Purchases

China emerged as the largest importer of Russian fossil fuels, paying €313.4 billion over the period. The European Union followed with €227.8 billion, while India spent €168.5 billion. These figures highlight the difficulty of enforcing a unified embargo, as key economies continue to rely on Russian energy. The EU, despite pledging to reduce dependence, remains the second-largest buyer, with member states importing significant volumes of oil, gas, and coal. India, meanwhile, has sharply increased its purchases of discounted Russian crude, refining it for domestic use and re-export.

Deadly Russian Drone and Missile Strikes Hit Ukrainian Cities

On Sunday, Russian attacks killed three people and wounded 15 across Ukraine, local authorities reported. In the Black Sea port city of Odesa, two people died and five were injured as drones struck port infrastructure and residential buildings. The regional prosecutor's office confirmed the casualties. In Mykolaiv, another Black Sea city, a missile strike wounded five people and damaged several private homes, according to the regional governor. Further east, near the front line, the city of Kherson came under drone attack early Sunday, killing a 60-year-old man and wounding five others when a private car and an ambulance were hit.

Ukraine Strikes Russian Naval Assets as Drone Warfare Intensifies

Ukraine announced on Sunday that it had struck several Russian naval vessels, including a missile cruiser and three shadow fleet tankers. The attacks came as both sides launched hundreds of drones, resulting in at least five deaths overall: three in Ukraine, one in Russia, and one in Russian-occupied southern Ukraine. Peace talks have yielded no results, and the daily exchanges of explosive-laden drones have become routine. Ukrainian President Volodymyr Zelensky vowed on Sunday to escalate Kyiv's retaliatory strikes on Russian energy infrastructure unless Moscow halts its invasion.

Zelensky Warns of Escalation as War Grinds On

“Russia can end its war at any moment. Prolonging the war will only expand the scope of our defensive action,” Zelensky wrote on social media. His statement signals a potential intensification of Ukrainian attacks on Russian energy targets, mirroring Moscow's own tactics. The conflict, now in its fifth year, shows no signs of abating. Odesa, a critical port near the front line, has been repeatedly targeted by drones and missiles. Earlier this week, a large-scale drone attack in the city injured more than ten people.

Outlook: Energy Revenues and Escalation Risks

The CREA data paints a stark picture: Russia's fossil fuel exports continue to fund its war effort, with buyers in Asia and Europe underwriting the conflict. While sanctions have altered trade routes, they have not significantly reduced Moscow's income. As Ukraine threatens to strike deeper into Russian energy infrastructure, the risk of further escalation grows. The coming months may see intensified attacks on both sides, with civilian populations bearing the brunt. The international community faces mounting pressure to close loopholes that allow Russian energy to flow to global markets.

The bottom line

• Russia has earned €1.1 trillion from fossil fuel exports since the invasion, with China, the EU, and India as top buyers.
• Sanctions have shifted trade patterns but failed to significantly reduce Moscow's energy revenues.
• Ukrainian cities continue to suffer deadly drone and missile attacks, with three killed and 15 wounded on Sunday alone.
• Ukraine struck Russian naval assets, including a missile cruiser and three tankers, escalating the conflict.
• President Zelensky has vowed to intensify strikes on Russian energy facilities if the invasion continues.
• The war shows no sign of resolution, with daily drone exchanges and rising civilian casualties.