Funding the War

2022

Six weeks after Russia invaded Ukraine, the European Union is still funding its military campaign. The EU can’t agree to sanction the bloc’s biggest business dealings with Russia: the purchase of oil and natural gas. The EU, which imports around 60% of its energy needs, is making large payments to Russia, boosted by higher oil-and-gas prices during the war. Since the invasion, the bloc’s 27 member states had made energy payments worth around 35 billion euros, equivalent to about $38 billion, to Russia.

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