Putin Profits As Europe Buys Russia’s Oil? How Ukraine’s Biggest Backers Fuel Russia’s War Chest #HindustanTimes
Putin Profits As Europe Buys Russia’s Oil? How Ukraine’s Biggest Backers Fuel Russia’s War Chest
Despite pledges to reduce dependence on Russian energy, Europe’s imports of Russian oil surged in 2025, raising concerns over the EU’s commitment to sanctions. Reuters reported on October 10 that seven EU members increased purchases compared to 2024, with total imports exceeding $12.7 billion in the first eight months of the year. France saw a 40% year-on-year jump, importing $2.5 billion worth of oil, while the Netherlands’ imports rose 72% to $579 million. Hungary, Belgium, Croatia, Romania, Portugal, and Slovakia also raised their Russian energy intake, with Hungary and Slovakia alone accounting for $5.8 billion. Analysts warn that the flow of Russian oil undermines the EU’s stated objective of weakening Moscow’s war funding, with long-term contracts involving companies like TotalEnergies, Shell, and Gunvor extending into the 2030s and 2040s. France reportedly acts as a transit hub, forwarding supplies to Germany, highlighting loopholes in the embargo. The U.S., including former President Trump at the UNGA, criticized Europe for indirectly financing Russia’s war effort, calling the surge a “form of self-sabotage.”
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