Based on today’s CREA report on Russian exports - in relative terms, the most decisive countries in cutting Russian energy imports were the United States (-100%), Sweden (-99%), Lithuania (-77%), Egypt, Spain, Finland, Poland, Estonia and Japan.

• Crude oil imports into the EU fell by 18% in May. However, this reduction was taken up by India and the United Arab Emirates, leading to no net change in Russia’s crude oil export volumes.
• There are some in-land European countries who bumped up imports of natural gas (Slovakia, Czechia, Austria), potentially to fill the gap on the market due to the Yamal-Europe pipeline halt.