Despite Western sanctions, Russia continues to profit significantly from fossil fuel exports, generating over €883 billion since its full-scale invasion of Ukraine, with a substantial portion coming from EU countries. Data shows that revenues from hydrocarbons have surpassed the aid received by Ukraine from its allies, raising concerns among campaigners about the effectiveness of sanctions and the so-called “refining loophole,” where Russian crude is processed in third countries and sold to sanctioning nations. Experts urge Western governments to take stronger measures to curb these revenues, which are crucial for sustaining Russia’s military efforts.
