Russia managed to compensate for the loss of export volumes with a significant increase in European gas prices and high oil prices, Kyiv Independent reports.

According to Reuters, in January-September 2022, budget revenues from oil and gas increased by more than a third.

While EU countries paid Russia about $100 billion for fossil energy in 2021, according to Eurostat, the Center for Energy and Clean Air Research (CREA) estimated that as of January 17, EU countries paid Russia $135 billion for their energy. of fossil fuels since the start of the full-scale invasion in February 2022.

In short, the EU paid more to Russia in 2022 than in 2021, despite reducing its dependence on Russian energy.

Europe, which has been dependent on Russian gas for years, exceeded expectations and reduced the share of Russian gas in the EU’s energy balance from 40% to 10% during the year.

But the significant gas reduction was not Europe’s decision, Tomas Pellerin-Karlin, head of the Institute of Climate Economics of the EU program, told the Kyiv Independent.

“The person who decided this is (Vladimir) Putin… This is not a European decision, compared to oil, for example,” he said.