Turkey becomes new route for Russian oil to EU

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Turkey becomes new route for Russian oil to EU

Shawdesh desk:

Moscow’s revenues from fossil fuel exports fell in October to their lowest levels since the Ukraine invasion, but Turkey has become a new route for Russian oil supplies to the EU, a think tank said Wednesday.

Russia collected an estimated 21 billion euros ($21.7 billion) in fossil fuel exports last month, a seven percent drop from September, according to the Finland-based Centre for Research on Energy and Clean Air (CREA).

Revenue from exports to the European Union fell by 14 percent to 7.5 billion euros, below pre-war levels.

The EU will ban most imports of Russian crude oil next month. Refined oil products from Russia will be prohibited from February.

The 27-nation bloc has also placed an embargo on Russia coal. While it has not banned natural gas imports from Russia, Moscow has slashed supplies to the EU.