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Five EU States Paid €938 Million for Russian Oil and Gas in October, CREA Finds

Hungary led purchases under exemptions that keep pipeline gas plus certain Družba oil outside EU bans.

Overview

  • CREA’s estimate, based on Kpler, MarineTraffic, ENTSO-G and customs data, attributes roughly two-thirds of the October total to natural gas delivered by pipeline or as LNG that is not under EU sanctions.
  • Hungary was the largest buyer at €258 million, including €83 million of oil and €175 million of pipeline gas.
  • Slovakia ranked second at €210 million, with €162 million of oil via the Družba pipeline and €48 million of pipeline gas, and CREA notes the June 5 end of Slovakia’s re‑export waiver implies domestic consumption of refined products.
  • France imported €209 million of Russian LNG, Belgium €158 million of LNG, and Romania €74 million of pipeline gas.
  • Separately, CREA estimates the EU, Australia, the UK and the US imported €971 million of fuel from six refineries in India and Turkey in October, about €443 million of it refined from Russian crude.