Dylan Bettencourt
Russian President Vladimir Putin’s energy war on western countries has brought in enough money to pay for the conflict with Ukraine and still make a profit, researchers claim.
The Kremlin has earned around R2.8 trillion from oil, gas and coal sales since Russia invaded Ukraine six months ago, The Times reports.
In comparison, Russia is believed to have only spent R1.7 trillion on the war, according to the Centre for Research on Energy and Clean Air (Crea), a Finnish think tank.
The Kremlin increased the amount of profit it made through soaring energy prices after halting gas deliveries throughout Europe as a response to the sanctions placed against Russia.
“Russia has cut gas exports to the EU by 75%, in an attempt to blackmail Europe. Yet the increases in gas prices have meant that Europe is paying Russia as much for gas as a year ago,” Crea wrote.
The European Union (EU) is said to have paid Russia R1.42 trillion for gas and oil deliveries since the start of the war.
Germany alone has spent R280 billion, with Russia also receiving a R550 billion payment from China, which offered its support to Putin for the invasion of Ukraine.
As the EU has no plans to buy energy from any other source, Russia will continue making profits during its war with Ukraine.
Moscow recently announced that Europe’s main oil supply has developed a leak, a move many believe to be weaponising energy supplies.
Senior executive at energy company Gazprom, Vitaly Markelov, told Reuters the pipeline would be shut until the leak was repaired.
Gazprom also announced that there had been delays in repairs and maintenance due to sanctions placed on Russia.
Siemens Energy, the company tasked with gas line repairs, said the leak was not enough to close the pipeline.
“We cannot comprehend this. Such leaks do not normally affect the operation of a turbine and can be sealed on site,” Siemens said in a statement.
Image source: @Reuters
