India Imports Record Russian Oil, Belgium Buys All LNG from Russia

Despite ongoing sanctions, Russia's fossil fuel exports continue to flow, with notable shifts in import patterns observed in July. India recorded its highest-ever imports of Russian crude oil, while Belgium, a key European hub, imported 100% of its liquefied natural gas (LNG) from Russia.

These findings come from an analysis by the energy think tank CREA, published on August 10th. The report highlights that while Russian fossil fuel export revenues decreased by 12% in July from the previous month to €683 million per day, the overall volume of exports remained steady.

The primary reason for the revenue drop is a substantial decrease in the export of refined oil products. This suggests a strategic shift or a challenge in selling these specific commodities, even as crude oil and LNG continue to find markets.

The Ukrainian network B4Ukraine has criticized the situation, stating it is "shameful that... EU countries continue to send billions of euros to Russia for fossil fuels." This sentiment underscores the ongoing debate about the effectiveness of sanctions and the reliance of some nations on Russian energy resources.

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shameful that ... EU countries continue to send billions of euros to Russia for fossil fuels