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Russia made a staggering $97 billion in first 100 days of Ukraine war by selling oil and gas to the world
Russia made $97 Billion(£79.4bn) in the first 100 days of the war against Ukraine by selling its fossil fuels to countries all over the world.
This staggering total came despite a significant fall in export volumes in May as the international community tried to reduce dependency on Moscow's oil and gas.
According to a report by the Centre for Research on Energy and Clean Air (CREA), the EU received 61% of Russia's fossil fuel exports.
And even as Russian oil is being sold at a discount because of its origin, a global increase in demand for fossil fuel and soaring energy prices have still been lucrative for President Vladimir Putin's regime, helping to finance his invasion of Ukraine.
CREA's lead analyst Lauri Myllyvirta said of the current international sanctions against Moscow: "The progress to date is far too slow given Ukraine's urgent need for support. Much stronger action is needed to cut off the flow of cash to Russia.
"Globally, we need to speed up the deployment of clean energy to replace fossil fuel imports and ease the high fuel prices which are driving up Russia's revenues."
Mr Myllyvirta said: "The exports of Russian oil to new markets are being enabled by Greek and other European shipping companies.
"As Russian oil is shipped to more distant markets, more tanker capacity than ever before is needed for the transport.
