Russia’s ongoing invasion of Ukraine has brought fossil fuels and geopolitics to the forefront of public discussion. In an effort to evade economic sanctions, Russia has weaponized its energy exports.
In March, President Vladimir Putin said he expects “unfriendly” countries — those that have imposed sanctions over Russia’s war in Ukraine — to pay for gas sales in rubles. In May, Russia halted gas supplies to Poland and Bulgaria after they refused to pay in rubles. The European Union buys a significant portion of its natural gas (40 per cent) and imported oil (27 per cent) from Russia. Some analysts have said a few countries, like Germany, could see a recession if gas from Russia were completely cut off.
