Russia is still raking in billions from selling fossil fuels, even as its war against Ukraine drags on into its fourth year. Since the invasion began in February 2022, Russia’s revenue from oil and gas exports has outstripped the aid Ukraine receives from its allies by more than three times.
A study by the BBC reveals that Western nations paid Russia over €883 billion for its fossil fuels since the war started, including a significant share even from countries that imposed sanctions. Notably, EU nations continued to import gas through pipelines, and pipeline gas volumes increased by over 26% early in 2025 compared to the previous year. This situation shows how dependent many countries still are on Russian energy.
In fact, oil and gas make up nearly a third of Russia’s state revenue and over 60% of its exports. Western sanctions were introduced after the invasion, but loopholes still allow Russia to profit. Many countries outside the EU process Russian oil, mixing it with other crude oils to sell to sanctioning nations, known as the “refining loophole.”
Experts like Mai Rosner from Global Witness say that many Western governments hesitate to cut Russian fossil fuel imports for fear of rising energy prices. This has created a complex issue where countries are indirectly funding a war while supporting Ukraine. Indeed, campaigners argue that stopping imports is crucial to limiting Russia’s war funding and pushing for sanctions, emphasizing the need for a more decisive approach from Western leaders.
The current state of affairs also poses moral questions. As Rosner points out, the West is in a precarious situation—supporting Ukraine while simultaneously funding its aggressor. There’s a growing sentiment among analysts that a shift towards renewable energy is essential. This could lessen reliance on Russian fossil fuels and mitigate the risks associated with fluctuating energy markets, dictated often by hostile entities.
Analysts advocate for stricter sanctions and more efficient enforcement. According to former Russian Deputy Energy Minister Vladimir Milov, current sanctions are not as effective as intended, largely due to inadequate enforcement mechanisms. This has led to skepticism about the sustainability of sanctions frameworks amidst ongoing geopolitical tensions.
In summary, while Western nations implement sanctions against Russia, the impacts are lessened by loopholes and ongoing imports. A renewed commitment to weaning off Russian energy sources could reinforce support for Ukraine while fostering a more stable international energy landscape.
For further information, you can explore the Centre for Research on Energy and Clean Air’s reports.