Finnish thinktank calls for stricter sanctions enforcement while also finding Russian oil revenues have fallen amid discounting. What we know on day 1,462
Russia’s oil exports dropped last year but the country is still exporting higher volumes than before its 2022 invasion of Ukraine, researchers have said, calling for stricter sanctions enforcement. The volume of Russian crude oil exports remained 6% above pre-invasion levels in the fourth year of the war, despite western sanctions aimed at curbing Russia’s “shadow fleet” used to circumvent western sanctions, according to a report by the Centre for Research on Energy and Clean Air (Crea), a Finnish thinktank. But oil revenues – which are fuelling Moscow’s war chest – have dropped below pre-invasion levels, as Russia has been forced to adopt price discounts, the report on Tuesday said. “We’ve seen a significant drop in Russian fossil fuel export earnings as a result of new measures and greater enforcement,” said Isaac Levi, a Crea analyst and co-author of the report. But he added that “there are still significant loopholes and areas that have been unaddressed by sanctioning countries”, allowing volumes to remain high.
European leaders accused Hungary of sabotaging support for Ukraine on the eve of the fourth anniversary of Russia’s full-scale invasion, after a defiant Budapest blocked fresh economic measures against Moscow. Germany, France and other EU states failed to persuade Viktor Orbán’s government on Monday to approve the latest EU sanctions package and a loan meant to help Kyiv meet its military and financial needs, reports Luke Harding. Poland’s prime minister, Donald Tusk, described Hungary’s actions as “political sabotage”. The row threatens to overshadow a carefully choreographed display of solidarity between Ukraine’s president, Volodymyr Zelenskyy, and his key European partners. Several EU leaders are expected to visit Kyiv on Tuesday, including the European Commission president, Ursula von der Leyen.
