https://sputnikglobe.com/20260128/rejection-of-russian-oil-costs-eu-over-300bln--analysis--1123539233.html

EU Incurs Staggering $339Bln Self-Inflicted Cost by Rejecting Russian Oil - Study

EU Incurs Staggering $339Bln Self-Inflicted Cost by Rejecting Russian Oil - Study

Sputnik International

Four years ago, Russia was the largest supplier of oil to the European market, accounting for a quarter of all oil imports to the EU. By 2025, this share had plummeted to just 2%, Sputnik's analysis based on Eurostat data shows:

2026-01-28T07:44+0000

2026-01-28T07:44+0000

2026-01-28T09:17+0000

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russia

european union (eu)

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In January–November 2025, the average cost of one barrel of oil imported by European countries was $77, compared to $68 four years earlier.This means that Europe is now paying $9 more per barrel than in 2021. As a result, the overpayment for the incomplete year of 2025 amounted to $27 billion, while for 2022–2024 it totaled $311 billion.Overall, since the EU’s introduction of anti-Russian sanctions that began in 2022, Europeans have overpaid $339 billion.

https://sputnikglobe.com/20251216/pakistan-russia-discussing-oil-agreement---finance-minister-1123303269.html

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russian oil costs, largest supplier of oil, oil imports, european market