The European Union (EU) has been talking very tough about its unwavering and unlimited support for Ukraine since Ukrainian President Volodymyr Zelensky’s disastrous visit to the White House, but data published by an independent research organization shows the EU spent more on Russian oil and gas in 2024 than it spent on Ukraine.
The Center for Research on Energy and Clean Air (CREA), a group opposed to burning fossil fuels, calculated that European nations spent $23 billion buying Russian fuel in 2024, compared to $19.6 billion in foreign aid provided to Ukraine.
WATCH — “He Should Be More Appreciative!” Trump’s Thoughts on Zelensky Stalling Negotiations:
EU spending on Russian fuel was down six percent from the previous year, but this was largely due to falling prices, since the volume of Russian product imported by the EU was only down by one percent.
CREA also found Russian oil sales to China, India, and Turkey booming, although its total fossil fuel revenue of $254 billion was down three percent from 2023. Russia’s “shadow fleet” of some 558 tankers moved 167 million metric tons of oil in defiance of price caps.
“Despite a host of sanctions, Russian revenues in the third year have dropped by a mere 8% compared to the year prior to the invasion of Ukraine,” the report noted. Furthermore, the effect of sanctions appears to be diminishing, largely due to Russia’s skill at using its shadow fleet to evade price restrictions.
CREA recommended “tighter sanctions” against Russia that could “slash Kremlin revenues” by up to 20 percent – but those sanctions would require the EU to break its addiction to Russian fuel. European purchases have declined greatly since Russia invaded Ukraine in 2022, but Europe still provides roughly a quarter of Russia’s fossil fuel export revenue.
“Purchasing Russian fossil fuels is, quite plainly, akin to sending financial aid to the Kremlin and enabling its invasion,” CREA analyst Vabihav Raghunandan told the UK Guardian.
WATCH — Trump and JD Vance Warn Zelensky About Rejecting Peace: “You Don’t Have the Cards Right Now”:
Raghunandan said the practice of importing fossil fuels from Russia “must stop immediately to secure not just Ukraine’s future, but also Europe’s energy security.”
The Guardian quoted IfW Kiel economist Christoph Trebesch arguing that not only is Europe pumping billions into the Russian war machine by buying Moscow’s oil and gas, but its contributions to Ukraine are actually well below historical levels for conflicts such as Kuwait’s defense against the Iraqi invasion in 1990 and 1991.
Argent LNG founder Jonathan Bass told Fox News on Monday that for all of its professions of boundless devotion to Ukraine, the European Union is unlikely to make the kind of sacrifices CREA envisioned – in part because President Joe Biden made it impossible for Europe to get its fuel from the United States.
“Russian pipeline gas has been cheaper than LNG prices, even with the geopolitical risk, the European buyers still find Russian gas economical,” Bass explained. This was because Biden walloped the American liquefied natural gas (LNG) industry with heavy restrictions soon after he took office.
President Donald Trump lifted those Biden orders with equal speed when he took office this year, but it will take time for the American LNG industry to recover.
Even when it does, Bass warned that the Europeans have grown “afraid of relying on America’s political swings.” Also, he noted that Europe’s “distribution infrastructure isn’t optimized for importing from elsewhere,” because the EU relies on gas pipelines from Russia.
Conversely, the American energy industry is uncertain of its political future, and unclear about what President Trump wants it to do, since he is outspokenly dedicated to ending the war through diplomacy with Russia – and that could make any big investments in American exports to Europe risky. If the war ends, the EU will have major incentives to resume purchasing cheap Russian fuel through its pipelines at prewar levels.
“What we need to be we really need assurance of direction and supply of what the administration wants us in the gas LNG business to do. Don’t do a Biden on us,” Bass said.
“If you want them to be supplied out of Russia, that’s the intent, then we’ll find other markets. But we don’t need more flip-flopping — Biden set this whole Russia-Ukraine war up when he stopped dependence on American energy,” Bass concluded.
Jesus Christ is King
