Russia Says It Sold EU USD320.7B in Energy Despite Sanctions
(MENAFN) Russia has delivered $320.7 billion worth of energy resources to European Union countries since 2022, Deputy Prime Minister Alexander Novak said Monday, a total that tops the $250 billion figure the United States had previously cited.
Novak made the claim in an interview with a Russian state broadcaster. He cited Energy Ministry data showing that Russia sent Europe $21.3 billion in energy resources during the first nine months of 2026.
Shipments have continued despite sanctions, he said, with deliveries maintained in areas covered by exemptions. Moscow is still meeting its contractual obligations, Novak said. He acknowledged that the makeup of its exports to the EU has shifted substantially in recent years, but said supplies requested by European customers are still flowing.
Novak also disclosed that Russian and US companies have opened negotiations on diesel deliveries, in parallel with talks between the Russian Energy Ministry and the US Department of Energy.
Russia could lift diesel exports to global markets to 3.5 million tons a month by the end of the year, he said. Extra Russian cargoes would help balance global supply and demand, according to Novak.
He blamed much of the rise in oil prices on higher transportation costs and a shortage of vessels.
Novak made the claim in an interview with a Russian state broadcaster. He cited Energy Ministry data showing that Russia sent Europe $21.3 billion in energy resources during the first nine months of 2026.
Shipments have continued despite sanctions, he said, with deliveries maintained in areas covered by exemptions. Moscow is still meeting its contractual obligations, Novak said. He acknowledged that the makeup of its exports to the EU has shifted substantially in recent years, but said supplies requested by European customers are still flowing.
Novak also disclosed that Russian and US companies have opened negotiations on diesel deliveries, in parallel with talks between the Russian Energy Ministry and the US Department of Energy.
Russia could lift diesel exports to global markets to 3.5 million tons a month by the end of the year, he said. Extra Russian cargoes would help balance global supply and demand, according to Novak.
He blamed much of the rise in oil prices on higher transportation costs and a shortage of vessels.
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