PARIS (Reuters) – Russia’s occupation of Ukraine in the first 100 days of its occupation is expected to be huge, despite pressure from more European countries to impose sanctions. According to a report by the Finnish-based CREA, Russia earned $ 98 billion ($ 7,65,957 billion) from oil sales.
Earlier this month, the European Union (EU) decided to suspend Russian oil imports. It also decided to eliminate natural gas imports by two-thirds by the end of the year. However, EU countries accounted for 61 percent of Russia’s oil sales in recent days. That alone is worth $ 57 billion. China is the world’s largest buyer of $ 1.26 billion in oil. Germany is next with $ 1.21 billion.
Crude oil is the mainstay of Russian fuel sales. Others include natural gas through the pipeline, oil products, liquefied natural gas, and coal.
Other countries, including China, India and the United Arab Emirates, have increased their purchases in the wake of Russia’s withdrawal from oil. In India, it is mainly bought by private companies.