EU Buys €1.5B in Russian Fuel in July

Pipeline gas accounted for 38% of the EU's imports (561 million euros), while LNG accounted for 36% (526 million euros).

Consensus

The European Union purchased Russian fuel worth €1.5 million in July.
26% of the EU's Russian fuel imports in July were crude oil.
38% of the EU's imports were pipeline gas, valued at €561 million.
36% of the EU's imports were LNG, valued at €526 million.
The EU became the fourth-largest buyer of Russian energy resources.
China is the largest buyer of Russian energy exports, followed by India and Turkey.
The EU plans to end imports of Russian oil and gas by 2028.
The 21st package of sanctions against Russia includes restrictions on short-term contracts for Russian pipeline gas.
Russia has redirected oil exports to friendly countries, with 94% of exports going to such nations in five years.

Hungary was the largest EU importer of Russian fuel, spending €486 million, primarily on pipeline gas (62%). — kommersant
Slovakia was the second-largest EU importer, spending €299 million on Russian fuel. — kommersant
France, Spain, and Belgium reduced their imports of Russian LNG by 46%. — kommersant
All LNG imports to France, Spain, and Belgium came from Yamal. — kommersant
The EU is the largest buyer of Russian LNG, accounting for nearly half (49%) of Russia's total LNG exports. — vedomosti
China dominates Russian coal and oil imports, while Turkey leads in oil product purchases. — vedomosti
Russia's crude oil export revenues remained stable, increasing by 1% month-on-month, at €392 million per day. — vedomosti
Russia's pipeline oil export revenues fell by 21%, offset by a 7% increase in sea-based oil export revenues. — vedomosti
In January, the EU imported no oil products from Russia for the first time since trading began. — vedomosti
EU ambassadors agreed in October 2025 to implement a plan to stop Russian oil and gas imports by 2028. — vedomosti