Russia Surpasses US in Gas Exports to EU Despite Sanctions

EU Purchases More Gas from Russia than the US

Between April and June, the European Union (EU) purchased over 12.7 billion cubic meters of gas from Russia, surpassing the 12.3 billion cubic meters bought from the United States. Dmitri Birichevski, the Director of the Russian Department of Economic Cooperation of the Foreign Ministry, revealed that Russia is now responsible for 15% of the total volume of natural gas imported by the EU. This is in spite of the REPowerEU initiative launched in May 2022, which aimed to reduce EU's dependence on Russia and cut off its energy profits.

France Doubles its Import of LNG

Birichevski highlighted that France imported 4.4 billion cubic meters of liquid natural gas (LNG) in the first quarter of 2024, more than doubling the approximately 2 billion it imported in 2023. Despite Russia's increased exports, Norway still leads, having supplied the EU with 23.9 billion cubic meters in Q2. Before its invasion of Ukraine, Russia was the leading supplier.

Germany Claims to Stop Importing Gas from Moscow

Despite these figures, the German government insists that it no longer imports any gas from Moscow. However, it is clear that many other member states continue to do so. Amid renewed calls to halt Russian imports and defund Putin’s war chest, the energy policy spokesman for the Free Democratic Party (FDP) proposed that the EU “pay a fixed amount of aid and arms supplies to Ukraine for every cubic meter of imported Russian gas.“

Controversy Over Russian Gas Imports

The issue of Russian gas imports has been a contentious one, with reports suggesting that shipments from Russia are being laundered through other countries and pipelines to avoid being labeled as “Russian.” This new data emerges despite the implementation of no less than 14 sanctions packages, including the most recent one in June, which explicitly bans the transit of Russian LNG.

Bottom Line

Despite numerous sanctions and efforts to reduce dependence on Russian gas, the EU continues to import significant volumes from Russia. This raises questions about the effectiveness of sanctions and the EU's commitment to diversify its energy sources. What are your thoughts on this issue? Do you think the EU should continue to rely on Russian gas? Share your thoughts and this article with your friends. Don't forget to sign up for the Daily Briefing, delivered to your inbox every day at 6pm.