EU imports of Russian energy: how much Russia has earned

The European Union spent €23 billion on Russian energy in 2024 despite having significantly reduced consumption.

Source: European Commissioner for Energy and Housing Dan Jørgensen, as reported by Radio Liberty

Quote: "Before 2022, half of the coal we used in the EU was from Russia. This we have stopped completely. On oil, we have gone from 26% to 3% of our oil being from Russia. And finally gas. We have gone from 45% of our gas coming from Russia in 2022 to 13% today. So, we have come far. But not far enough. Last year, we in the EU paid €23 billion to Russia for our energy imports."

Details: Jørgensen has announced new rules that will enable Russian gas to be tracked on the market. He added that the European Commission expects member states to draw up national plans for phasing out Russian energy.

"These plans need to be ready by the end of this year," Jørgensen stated. "Also to address the illegal oil entering the market via Russia's ‘shadow fleet’ we tighten the grip." 

He stressed that the European Commission does not envisage any possible future scenario in which Nord Stream would be used to transport Russian energy to Europe.

Background: On 19 May, it was reported that the EU would propose lowering the current price cap on seaborne Russian oil (US$60 per barrel) to G7 finance ministers.

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