Europe funds Putin's war chest with €20 billion energy bill
This year, Russia is set to earn €233 billion from the sale of energy and raw materials, with the European Union alone contributing €20 billion to Putin's war economy. Moscow plans to utilise this money to finance new tanks, kamikaze drones, and artillery shells.
Russia relies heavily on the revenue from the sale of oil, gas, uranium, and coal to support its war economy. The energy sector remains a vital source of income for the country. In 2024, revenues from hydrocarbon exports accounted for 30% of the national budget.
The German newspaper "Bild" reports that Russia will earn €233 billion this year from exporting energy and raw materials. Of this, over €20 billion will be contributed to Putin's war economy by Europeans themselves, according to data from the Bruegel Institute.
This amount far exceeds the EU's allocation for military support to Ukraine. According to 2024 data, military aid amounted to €6 billion from the European Peace Facility (EPF), designated for the supply of arms, ammunition, and training of Ukrainian armed forces. Additionally, over €1.9 billion was earmarked for the delivery of one million artillery ammunition rounds.
However, it is worth noting that military aid is part of broader support, which also includes substantial financial assistance. The EU is providing €18.1 billion to support Ukraine's budget, including payments for salaries, pensions, and infrastructure reconstruction, and €12.5 billion from the Instrument for Ukraine for long-term support aimed at rebuilding and implementing reforms to bring Ukraine closer to EU membership. Additionally, there is €18 billion allocated for humanitarian aid and energy infrastructure reconstruction. The total aid to Ukraine in 2024 amounted to approximately €38.3 billion.
The significant effort by Europe to support war-torn Ukraine is gradually undermined by the bill presented by Russia to the Union for imported energy resources.
The world fills Putin's coffers
Although Russia is subject to numerous sanctions, it continues to generate substantial revenue from hydrocarbon exports. As "Bild" highlights, in February 2025 alone, other countries paid Vladimir Putin's regime €640 million for gas, oil, liquefied natural gas, coal, and uranium.
The largest importers of Russian raw materials are China, India, and Turkey, which is part of NATO. Together, these countries accounted for about two-thirds of Russian energy exports.
According to "Bild," thanks to continuous revenue from raw materials, Russians are able to construct approximately 80 new tanks each year and renew more than 300 annually. Additionally, this year, Russia is expected to produce over 150,000 long-range kamikaze drones and about half a million fibre-optic kamikaze drones.
The German newspaper suggests that without secondary sanctions targeting countries importing energy resources from Russia, Putin's coffers will continue to be replenished with new funds that the regime will use to fuel its war machine.
