20.03.2026, 16:29
The buyer of Russian oil reduced its imports to a minimum
Source: OREANDA-NEWS
OREANDA-NEWS In the first month of 2026, Russian oil exports to the European Union market more than doubled. These Eurostat data were quoted by RIA Novosti.
Shipments were estimated at 222.8 million euros, which was a historically low value for January. In annual terms, the cost of supplies fell 2.3 times. In total, in 2025, the European Union purchased 4.04 billion euros worth of Russian oil, or 36.3 percent less than in 2024.
In January, Russia was ranked 16th in the list of major oil suppliers to the European Union. The top five places went to Norway (2.95 billion), the United States (2.81 billion), Iraq (1.4 billion), Libya (1.35 billion) and Kazakhstan (1.23 billion).
According to Hungarian Prime Minister Viktor Orban, Europe will not be able to survive without Russian oil. He noted that the shortage of this hydrocarbon is already close, but Brussels is behaving crazily.
Hungarian Foreign Minister Peter Szijjarto had previously called for the immediate resumption of Russian oil and gas supplies to the EU.
Shipments were estimated at 222.8 million euros, which was a historically low value for January. In annual terms, the cost of supplies fell 2.3 times. In total, in 2025, the European Union purchased 4.04 billion euros worth of Russian oil, or 36.3 percent less than in 2024.
In January, Russia was ranked 16th in the list of major oil suppliers to the European Union. The top five places went to Norway (2.95 billion), the United States (2.81 billion), Iraq (1.4 billion), Libya (1.35 billion) and Kazakhstan (1.23 billion).
According to Hungarian Prime Minister Viktor Orban, Europe will not be able to survive without Russian oil. He noted that the shortage of this hydrocarbon is already close, but Brussels is behaving crazily.
Hungarian Foreign Minister Peter Szijjarto had previously called for the immediate resumption of Russian oil and gas supplies to the EU.
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