Moscow reveals Russian gas exports to Europe continue to increase
(MENAFN) Dmitry Pereshevsky, Director of the Economic Cooperation Department at the Russian Foreign Ministry, disclosed that Russian gas exports to European Union countries are on the rise, with these exports now accounting for 15 percent of the EU's total gas imports. Despite the EU's May 2022 plan to reduce hydrocarbon imports from Russia, European trade statistics indicate an increase in Russian gas imports, according to Pereshevsky, as reported by a Russian news agency.
Pereshevsky elaborated that in the first half of this year, the European Union imported more Natural gas from Russia compared to the same period in 2023. He noted that currently, Russian gas constitutes 15 percent of the EU's total gas imports. He also highlighted that France is actively increasing its imports of Russian liquefied natural gas (LNG), according to data from the Institute for Energy Economics and Financial Analysis (IEEFA, USA).
In the first quarter of this year, French economic operators significantly boosted their purchases of Russian LNG, from 2 to 4.4 billion cubic meters. Experts suggest that a substantial portion of this LNG is intended for re-export. Pereshevsky emphasized Russia's leading role in the global move toward de-dollarization, noting that according to the Central Bank, the share of the ruble and currencies of friendly countries in Russian export transactions exceeded 82 percent in May of this year, while it reached 76 percent in imports.
He further pointed out that the share of "toxic" currencies, such as the dollar and the euro, which accounted for nearly 85 percent of Russian exports in 2021, has now dropped to less than 20 percent for exports and less than 30 percent for imports. Pereshevsky stressed that Russia no longer depends on the US dollar, with financial transactions with key partners now conducted in national currencies. He added that within the Eurasian Economic Union, 90 percent of transactions are settled in national currencies, and in bilateral settlements with China, this figure exceeds 90 percent.
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