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An unbiased analysis group says Germany was the most important purchaser of Russian power in the course of the first two months of the warfare in Ukraine
BERLIN — Germany was the most important purchaser of Russian power in the course of the first two months of the warfare in Ukraine, an unbiased analysis group mentioned Thursday.
A examine revealed by the Centre for Analysis on Power and Clear Air calculates that Russia has earned 63 billion euros ($66.5 billion) from fossil gas exports since Feb. 24, the date Russian troops attacked Ukraine.
Utilizing information on ship actions, real-time monitoring of fuel flows by means of pipelines and estimates based mostly on historic month-to-month commerce, the researchers reckoned Germany alone paid Russia about 9.1 billion euros for fossil gas deliveries — largely pure fuel — within the first two months of the warfare.
Claudia Kemfert, a senior power skilled on the German Institute for Financial Analysis who was not concerned within the examine, mentioned the figures had been believable given the latest sharp improve in costs for fossil fuels. Final 12 months, Germany paid about 100 billion euros in complete for imports of oil, coal and fuel — 1 / 4 of which went to Russia, she mentioned.
The German authorities mentioned it could not touch upon estimates and declined to offer any figures of its personal, saying these would want to come back from corporations that procure the power provides.
Germany has confronted robust criticism for its reliance on Russian fossil fuels regardless of warnings from allies that this might endanger its personal and European safety. Then-Chancellor Angela Merkel pushed again final 12 months in opposition to U.S. efforts to halt a Russian fuel pipeline to Germany, a call strongly backed by her successor, Olaf Scholz, whose Social Democratic Celebration have lengthy advocated power cooperation with Russia.
The pipeline was solely frozen by Scholz’s new center-left authorities shortly earlier than Russia’s invasion of Ukraine. It has since scrambled to seek out various power provides, significantly for Russian pure fuel, which now accounts for 35% of Germany’s complete imports.
Kemfert mentioned a latest pledge by the German authorities to supply electrical energy solely from renewable sources by 2035 was welcome.
“However so long as Germany continues to purchase fossil fuels, whether or not from Russia or different autocracies, it undermines each its personal credibility and its power safety,” she mentioned.
The Centre for Analysis on Power and Clear Air, which is predicated in Finland and funded by means of grants and analysis contracts, mentioned the second greatest importer of Russia fossil fuels within the two months because the outbreak of warfare was Italy (6.9 billion euros), adopted by China (6.7 billion euros).
South Korea, Japan, India and the US additionally bought Russian power after the beginning of the warfare, although considerably lower than the European Union. As a complete, the 27-nation bloc accounted for 71% of Russia’s complete revenue from oil, fuel and coal, value roughly 44 billion euros, the CREA report discovered mentioned.
Lauri Myllyvirta, the group’s lead analyst, mentioned year-on-year comparisons had been tough, however he estimated that Russia’s exports to Europe in the identical interval of 2021 had been value 18 billion euros.
“So 44 billion euros (…) represents a doubling from final 12 months,” he mentioned. “The primary driver is that market costs for fuel rose from round 10 euros per MWh a 12 months in the past to above 100.”
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