The EU "helps" Russia more than Ukraine! - In 2024, it spent more on Russian fuels than on financing Kiev
The European Union is spending more money on Russian fossil fuels than on financial aid to Ukraine, according to a recent report.
The EU bought 21.9 billion euros of Russian oil and gas in the third year of the war, according to estimates by the Center for Energy and Clean Air Research, despite efforts to reduce the continent's dependence on the fuels that finance Vladimir Putin's war.
The amount is one-sixth larger than the 18.7 billion euros the EU allocated to Ukraine in financial aid in 2024, according to the Kiel Institute for the World Economy.
In calendar year 2024, the EU spent 39% more on Russian fossil fuel imports than on Ukraine. The aid figure does not include military or humanitarian contributions.
The researchers said there was a huge gap between the amount of aid countries had mobilized for Ukraine compared to past wars, with European donors spending on average less than 0.1% of GDP per year.
According to experts, many countries were more generous in past conflicts. Germany, for example, mobilized much more aid, and more quickly, for the liberation of Kuwait in 1990/91, than for Ukraine in a comparable period of time.
The report also found that Russia earned €242 billion from global fossil fuel exports in the third year of its occupation of Ukraine, with revenues since the start of the war estimated at around €1 trillion.
Russia gets up to half of its revenue from taxes on the oil and gas sector and has sought to circumvent sanctions by moving fuel in a “shadow fleet” of old, uninsured tankers. The unidentified vessels are responsible for transporting about a third of its revenue from fossil fuel exports.
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