Kremlin Rakes in €60m a Day from EU Gas Sales

The European Union has so far been unable to significantly reduce its dependence on Russian gas. In June, member states imported 14% more liquefied natural gas (LNG) from Russia than a year earlier, according to data from the Centre for Research on Energy and Clean Air (CREA), reports the daily Welt.

The Kremlin's revenue from these sales has thus risen to approximately €60m ($69m) per day. France was the largest importer of Russian LNG, with four times as much gas arriving at the port of Montoir in June as in May.

The situation is complicated by tensions in the global market following restrictions on shipping through the Strait of Hormuz. Russian gas accounted for 13.4% of total gas imports into the EU in the second quarter.

At the same time, however, the EU plans to halt imports of Russian LNG starting in 2027. Norway and the US have since become the dominant suppliers, together accounting for approximately 60% of European gas imports, according to Bruegel.

(mja)