The share of Russian oil in the EU has decreased from 29.2% to 2.3% in two years

According to Eurostat data, by the end of June 2023, the volume of Russian oil imports to the EU countries decreased from 29.2%, as it was in 2021, to only 2.3%. 

A similar decrease also affected Russian gas imports, which decreased from 38.5% to 12.9%, and coal imports, which fell from 45% to 0%.

This decrease in import volumes is due to a number of factors, including the special operation in Ukraine and subsequent sanctions against Russia, which provoked the EU countries to reduce their trade ties with the Russian Federation. A particularly significant decrease in the supply of Russian petroleum products was recorded in the III and IV quarters of 2022, and this trend continued until June 2023, when the volume of Russian oil supplies amounted to only 2.3%.

With a decrease in Russia's presence on the European market in the supply of oil and petroleum products, the share of supplies from Saudi Arabia and Norway increased to 11%. The largest supplier is still the USA, occupying 13% of the market. Kazakhstan remains in the fourth position with an 8% share.

Natural gas imports from Russia to the EU have been growing since January 2021 and until March 2022, due to a sharp rise in prices. However, after the introduction of several packages of sanctions by the European Union from April to June 2022, Russian gas supplies «constantly and significantly» decreased. 

Russia's share in EU natural gas imports in 2021 was 38.5%, and by the end of June 2023 it had decreased to 12.9%. Shipments from the United States increased to 24% in the second quarter of 2023. Gas supplies from Algeria (18%), Great Britain (15%) and Norway (10%) also increased.