Who's Still Buying Fossil Fuels From Russia? By Tyler Durden

[Manuel Tavares]

Who's Still Buying Fossil Fuels From Russia?
By Tyler Durden
https://rayviolet.blogspot.com/2022/07/whos-still-buying-fossil-fuels-from.html

Despite looming sanctions and import bans, Russia exported $97.7 billion worth of fossil fuels in the first 100 days since its invasion of Ukraine, at an average of $977 million per day.

So, which fossil fuels are being exported by Russia, and who is importing these fuels?

The infographic below, via Visual Capitalist's Niccolo Conte and Govind Bhutada, tracks the biggest importers of Russia’s fossil fuel exports during the first 100 days of the war based on data from the Centre for Research on Energy and Clean Air (CREA).

In Demand: Russia’s Black Gold
The global energy market has seen several cyclical shocks over the last few years.

The gradual decline in upstream oil and gas investment followed by pandemic-induced production cuts led to a drop in supply, while people consumed more energy as economies reopened and winters got colder. Consequently, fossil fuel demand was rising even before Russia’s invasion of Ukraine, which exacerbated the market shock.

Russia is the third-largest producer and second-largest exporter of crude oil. In the 100 days since the invasion, oil was by far Russia’s most valuable fossil fuel export, accounting for $48 billion or roughly half of the total export revenue...+
https://rayviolet.blogspot.com/2022/07/whos-still-buying-fossil-fuels-from.html

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