The European Union is moving closer to banning all imports of Russian oil and natural gas more than three years after Moscow launched its unprovoked, full-scale invasion of Ukraine.

Russian gas accounted for about 19% of EU imports last year, down from roughly 45% before Moscow’s invasion of Ukraine and oil imports have declined to 3% from 27% in early 2022.

Russia’s export revenues from selling fossil fuel abroad fell to their lowest level since the start of the full-scale war against Ukraine. Source: a monthly report by the Centre for Research on Energy and Clean Air (CREA) Details: According to CREA analysts,