Europe's Energy Dependence Fuels Putin's War Chest, Says Greenpeace
Despite sanctions and geopolitical tensions, Russia continues to reap significant benefits from energy deals with European companies, according to a Greenpeace study. This dependence on Russian LNG directly supports Putin's war chest, threatening European peace and security.
In the first eight months of 2023, the EU imported 12.8 billion cubic meters of Russian LNG, and in 2021, it was 15.9 billion cubic meters. Major importers like France, Spain, Belgium, and the Netherlands spent more on these imports than on bilateral aid to Ukraine from 2022 to June 2025. French company TotalEnergies, with a 20% stake in Yamal LNG, and German company Sefe, previously Gazprom Germania, have been significant contributors to Russian corporate tax through their involvement in Yamal LNG.
Greenpeace experts criticize this continued dependence, as it funds Putin's war efforts. They calculate that the corporate tax paid by Yamal LNG, amounting to $9.5 billion between 2022 and 2024, could have bought military equipment worth the same amount, including attack drones, battle tanks, or artillery shells. However, European energy companies have reduced their contributions to Yamal LNG's revenue due to sanctions and shifts in energy sourcing, leading to a decline in European demand and purchases.
The only way out of this 'gas trap' is for Europe to transition to an energy system based on domestic renewable energy. This would reduce dependence on Russian LNG, starving Putin's war chest, and improving European peace and security. Despite the challenges, the shift in energy sourcing and reduced demand show that change is possible.
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