Europe’s Reduced Dependence on Russian Oil and Gas
Europe’s reliance on oil and gas imports from Russia has fallen sharply over the last two years, a trend supported by Eurostat data. By the end of June 2023, the share of oil brought in from the Russian Federation had dropped from 29.2 percent in 2021 to 2.3 percent. Gas imports from Russia showed an even more dramatic decline, tumbling from 38.5 percent to 12.9 percent in the same period. Coal purchases from Russia, which stood at 45 percent, were reduced to zero. These shifts mark a substantial realignment of Europe’s energy sourcing and carry significant economic and strategic implications for the region.
Analysts point to several factors behind these changes. During the period from January 2021 to March 2022, gas imports from Russia rose sharply, a movement driven in large part by a surge in prices. Yet this trajectory reversed as the European Union implemented a series of sanctions aimed at curbing Moscow’s energy revenue. The latter half of 2022 saw a temporary rebound in European gas imports, but this uptick was short-lived, tied to another price spike rather than renewed growth in shipments from Russia. In the second quarter of 2022, the EU’s gas supply portfolio shifted noticeably: the United States accounted for about 24 percent, Algeria 18 percent, the United Kingdom 15 percent, and Norway 10 percent of imports. Russia’s reduced share was offset by gains from other major producers such as Saudi Arabia and Norway, together with contributions from the United States and Kazakhstan. These shifts reflect Europe’s diversified approach to energy security and the strategic aim to decrease exposure to single sources of supply. [Source: Eurostat]
Beyond the raw numbers, the European energy landscape in 2022 and 2023 reveals a broader recalibration in trade patterns. The EU tightened sanctions and sought new contracts, long-term supply arrangements, and alternative routes to ensure steady energy access. This was coupled with efforts to speed up the transition to renewable energy, improve storage capabilities, and strengthen interconnections between member states. The experience of the past years underscores how price signals, political decisions, and global market dynamics interact to shape energy import choices in the bloc. [Source: Eurostat]
As concerns about energy security persist, the costs associated with abandoning Russian gas have become a topic of discussion across European capitals. Analysts estimate that Europe faced higher energy expenditures as a consequence of reducing reliance on Moscow, a factor that has influenced consumer prices and industrial costs. Yet the consensus among policymakers is that diversifying supply sources and accelerating cleaner energy deployment will help stabilize long-term energy affordability and resilience. [Source: Eurostat]
The broader takeaway is clear: Russia’s role in Europe’s energy mix contracted notably over the period reviewed, driven by sanctions, price dynamics, and deliberate diversification strategies. While imports from Russia still occur in smaller quantities, the transformation has reinforced Europe’s commitment to reducing strategic dependencies and pursuing a more resilient energy architecture. The evolution of trade patterns continues to be monitored closely by policymakers, energy sector stakeholders, and economic analysts alike. [Source: Eurostat]