At the end of last year, the share of crude oil from Russia in Europe’s total imports fell to 23.3%, amid international sanctions. We’re talking about a decrease to 116.9 million tons, to witness Data from the annual report of analysts from the British Energy Institute (Energy Institute, EI).
Compared to the same period of 2021, the share of Russian crude oil in total European imports decreased by 7.6 points (pp). Physically, however, the volume of deliveries fell to a greater extent – 15.7 pp. One of the main reasons for these dynamics was the significant increase in the volume of imports of raw materials by European countries.
“Crude oil from Russia accounted for 23.3% of total European imports. <…> The share decreased by 7.6 percent compared to 2021. At the same time, deliveries to Europe physically decreased by 15.7 percent. According to the report, one of the reasons for the decrease in Russia’s share was the increase in imports from Europe by 11.8 percent.
On June 26, Croatian representative Ivan Vilibor Sincic, member of the European Parliament Delegation for Relations with Russia (D-RU) declarationThe new EU sanctions package against the Russian Federation will not completely prevent the flow of oil products from the Russian Federation to the EU. The interruption of Russian oil supplies to Europe will not happen, since the “black” market quickly adapts to the changes.