Page 97 - Russia OUTLOOK 2024

Oil partners
Russian oil exports were 7% higher in 2023 than the figure in 2021, First Deputy Prime Minister Andrey Belousov said on December 23.
"Crude oil exports are 7% above the figure of 2021 and are about 250mn metric tonnes. Russian energy exports in the equivalent money reached indicators of the year of 2021 and remain at a level comfortable for the budget and companies," he said.
Exports of energy commodities to the European Union declined by 4.5 times, Belousov said. Supplies to unfriendly countries fell by 3.5 times in general compared to 2021, he added.
Despite the twin sanctions imposed on Russia on December 5, 2022 and February 5, 2023, the EU remained the largest importer of Russian oil and gas in 2023. Oil continues to be delivered to Central Europe by pipeline due to exemptions to the embargo calved out by countries like Hungary, and gas continues to arrive via Ukraine and Turkey. Also the EU has significantly ramped up its purchase of Russian LNG, which remains unsanctioned.
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