Russia-Ukraine Many countries are banding together to help Ukraine in its defense and to prevent Russia from invading Ukraine. Western countries, primarily the United States, the United Kingdom, and the European Union, have imposed sanctions on Russia, and other countries are following suit.
Germany is a high-potential import market for Russia among the European Union and its member states, accounting for a large portion of Russia’s oil and coal exports. Germany’s recent statement that it will prohibit imports might shake things up for Russia.
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Germany imports Russian energy
In terms of main energy commodities, Germany accounts for the highest percentage of Russia’s exports. Russia is not only a significant export market for Germany, but it is also a significant import market for Russia.
Both nations will be troubled if they lose any considerable market share. Despite Germany’s assertions that it is not banning all Russian imports, Russia may lose a significant portion of its market to the EU. The top exporting nations for Russia are shown below, according to the Russia trade database for the year 2021.
|Country||Value in USD %||Year|
|United States of America||3.6%||2021|
Germany buys one-third of its crude oil from Russia, while coal imports from Russia account for over half of its total coal imports. The main energy imports from Russia in Germany are crude oil and coal, with crude oil having a much higher value.
Get complete statistics on Russia’s imports and exports through Exim’s import-export and find out the top imported products of this country.
Energy Markets in Germany and Russia
Russia has the most oil reserves and produces the most fossil fuels, including crude oil, natural gas, and coal. Russia’s oil exports account for approximately 10% of global oil exports, with a major contribution to global natural gas of almost 24% or more and global coal of 16% or more.
Germany imports the most energy from Russia, but with the escalation of Russia-Ukraine hostilities and Germany’s commitment to assisting Ukraine in the war, Germany is now rethinking how it controls energy distribution and how it may become energy self-sufficient.
The alternative markets for Germany to seek refuge in if things go wrong while executing the self-reliance measures are shown below. The countries mentioned below can also take advantage of Germany’s obligations to come forward and enhance their earnings in these difficult times. Germany’s coal and oil imports are the only nations and values reported.
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Germany’s top export market for coal in 2021
|Country||Value in USD ($)||Year|
|United States of America||$989 Million||2021|
|South Africa||$168 Million||2021|
Germany’s top export market for oil in 2021
|Country||Value in USD ($)||Year|
|United States of America||$4.1 Billion||2021|
|United Kingdom||$3 Billion||2021|
The execution of the notion for power that may be generated from clean energy sources such as solar panels, windmills, and similar technologies is the first step toward Germany being self-sufficient. The EU’s 2030 Green Hydrogen Target has been in the works for years, and it will help Germany create energy for the EU’s largest economy.
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