Europe Breaks Free from Russian Oil Imports, Dealing Blow to Putin, Says Research

Recent research by the European energy consultancy Rystad indicates that Western Europe has significantly reduced its dependence on Russian oil and gas imports. The region has diversified its suppliers, including the US and Canada, reducing reliance on Russia. This shift has had a major impact on Vladimir Putin's influence.

Changes in Energy Supply

The UK and other European countries have seen a decrease in imports from Russia, which was previously a significant source of their gas, oil, and coal. The change in energy supply has been attributed to an increase in non-Opec sources and a drop in overall energy demand due to economic downturns. However, there are concerns that Russia could still be indirectly supplying the region through other countries.

Impact on the Economy

Despite this, the decline in direct trade with Russia has had a significant impact on its economy, with estimates suggesting that Russia has lost a substantial amount of revenue from fossil fuel exports to the EU. While Western countries have managed to reduce their reliance on Russian energy, the global supply chain is still interconnected, with potential implications for energy security.