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Sunday, March 26, 2023

Russian gas exports down by a quarter in 2022

Russia said its gas exports fell 25% in 2022 after the conflict in Ukraine led to a crisis in Moscow’s relations with major buyers in Europe.

The Kremlin’s decision to send troops to Ukraine last February triggered a wave of US and European sanctions. The latter was largely dependent on Russia for its energy needs.

Deputy Prime Minister Alexander Novak, who announced these data, explained the drop in gas exports by the refusal of European countries to buy Russian gas.

The European Union, once the biggest buyer of Russian gas, has sharply reduced its imports in 2022.

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