Russia would lose $ 135 billion if the EU imposed an embargo on oil, gas and coal – expert

This is more than 1/4 of Russia's export earnings in 2021.

The issue of restricting energy exports from the Russian Federation has been actively discussed in the EU for several weeks now, and unanimity in what decision to make yet, writes in the article President of the Center for Global Studies “Strategy XXI “Mykhailo Honchar.

The author says that the table below gives a retrospective view of the structure of Russia's income from energy exports.

Oil and refined products – in first place in importance, natural gas – in second place, but gives three to four times less, coal – in third place, but an order of magnitude less more important than oil “, he writes.

< span style = "font-weight: 400;"> In total, the EU consumes three times more energy from Russia than the largest buyer, China, which outperforms Europe only in coal supplies. Among the ten largest consumers are the five EU countries: the Netherlands, Germany, Italy, Poland and France. In 2021, Germany paid the Russians $ 23.1 billion. – this is 8.8% of annual “energy” revenue of the Russian Federation. Of these, $ 11 billion. – for gas , wrote Forbes.

“If European politicians banned the purchase of Russian oil, gas and coal, Russia would lose $ 135 billion, which is more than a quarter of export earnings, by 2021. According to experts, – 10% of GDP. This is the desired reduction in the cost of weapons for the war against Ukraine “ , – emphasizes Gonchar.

Read also: Scholz : Germany will need a transition period to impose a ban on coal from Russia

More about EU energy sanctions – the most effective impact on Russia's economy, read the article by Mikhail Gonchar ” Europe in Russia's energy trap: how to overcome dependence? ”.

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Based on materials: ZN.ua

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