Russia earns $97bn on energy exports since Ukraine invasion
The EU plans to ban Russian oil imports arriving by sea by the end of 2022, which would cut imports by two-thirds.Meanwhile, the US has declared a complete ban on Russian oil, gas and coal imports. The UK is to phase out Russian oil imports by the end of the year.But it warned large quantities of Russian crude oil were now being shipped to India, which increased its share of Russia's total crude exports from around 1% before the invasion of Ukraine to 18% in May.
It added that strong sanctions against tankers transporting Russian crude would significantly limit the scope for this practice. As well as India, other countries that increased imports of Russian fuel included France, China, the United Arab Emirates and Saudi Arabia, the report said.
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