Moscow’s revenues from fossil fuel exports fell in October to their lowest levels since the Ukraine invasion, but Turkey has become a new route for Russian oil supplies to the EU, a think tank said Wednesday.
Russia collected an estimated 21 billion euros ($21.7 billion) in fossil fuel exports last month, a seven percent drop from September, according to the Finland-based Centre for Research on Energy and Clean Air (CREA).
Revenue from exports to the European Union fell by 14 percent to 7.5 billion euros, below pre-war levels.
The EU will ban most imports of Russian crude oil next month. Refined oil products from Russia will be prohibited from February.
The 27-nation bloc has also placed an embargo on Russia coal. While it has not banned natural gas imports from Russia, Moscow has slashed supplies to the EU.