Less energy revenue for Russia - Western sanctions had no effect. Moscow sells oil at lower prices
The money Russia earned from oil and gas exports has fallen over the past 12 months, even as exports rose in volume, according to data released Tuesday, on the fourth anniversary of the full-scale invasion of Ukraine.
Russia relies heavily on energy revenues to support its war in Ukraine, a nexus that has led Western countries to impose increasingly stringent sanctions on Russian fuel, seeking to weaken the country's military efforts.
An analysis published by the nonprofit Center for Research on Energy and Clean Air found that Russia's revenues from exports of oil, gas, coal and refined products totaled 193 billion euros in the 12-month period ending February 24, 2026, marking a 27% decline from the comparable period before the invasion.
While Russia's gas exports have fallen sharply since 2022, sanctions have so far not affected Russia's oil export volumes, but instead have forced Moscow to sell oil at lower prices.
Russia's crude oil export revenues in the past 12 months fell by 18% year-on-year. At the same time, crude oil export volumes remained 6% above pre-invasion levels, at 215 million tons.
In response to Western sanctions, Moscow has redirected most of its sea-borne crude oil to China, India and Turkey, often relying on a "shadow fleet" of old and unsecured tankers to circumvent Western sanctions.
But tighter restrictions could hit Russian fuel exports harder this year. US President Donald Trump has made diversification away from Russian crude a condition of a trade deal with India.
The European Union is discussing a complete ban on any business that supports Russia's crude oil exports by sea, going far beyond previous sanctions. The bloc failed to approve those sanctions on Monday after Hungary vetoed them over a dispute over a damaged Ukrainian oil pipeline.
Today, four years of war in Ukraine - EU leaders in Kiev. "Hungary to unblock 90 billion euros in aid"
Russia's war in Ukraine is entering its fifth year on Tuesday, with leaders from across the European Union gathering in Kiev in a huge show of support. For......
From 1% to 5%, the history of property revaluation. How many properties were revalued over the years and how much revenue has the state generated?
The launch of the real estate revaluation process has been formalized, reducing the tax to 5%, from the previous 15%. The joint instruction of the Ministry......
Osmani: American presence vital for Kosovo's security!
The President of the Republic of Kosovo, Vjosa Osmani, received yesterday in a farewell meeting the outgoing Commander of the KFOR Regional Command East,......
Vengu meets Hungarian counterpart in Budapest: Deepened partnership in defense and support for European integration
The Minister of Defense of Albania, Pirro Vengu, held a joint press conference today with his Hungarian counterpart, Kristóf Szalay-Bobrovniczky, following......
Suspension of the new Entry/Exit System is requested - To avoid the chaos of summer tourist trips to the EU
Air transport organisations are calling for urgent action to prevent the EU's new Entry/Exit System (EES) from causing chaos during summer travel. The full......
General growth in the foreign exchange market – The Franc, the Pound and the Dollar strengthen!
The US dollar, after the significant weakening it suffered yesterday, has recorded a slight increase in value this morning as it was bought at 81.3 lek and......
More taxes for the rich - 2/3 of EU citizens support also taxing large companies
A 2005 Eurobarometer survey found that two-thirds of EU citizens support a tax on the wealthy, while four in five are in favour of taxing large multinational......
Trump's new global tariffs come into effect - The 15% level will remain in effect for 150 days, until the end of July
New global tariffs of 15% imposed by US President Donald Trump took effect at 6:00 a.m. At the same time, US Customs and Border Protection (CBP) stopped......
