Europe's LNG Imports Fuel Russia's War Chest
Despite efforts to reduce reliance on Russian energy, European countries continue to fuel Moscow's war chest through LNG imports. Since the Ukraine war began in 2022, France, Spain, Belgium, and the Netherlands have been the primary importers of Russian LNG, with the Yamal Arctic LNG project being a significant source. This has generated billions in tax revenue for Russia, which could be used to fund military equipment.
Greenpeace Belgium estimates that this tax revenue could finance millions of artillery shells, hundreds of thousands of strike drones, and thousands of battle tanks. The environmental organisation also highlighted that while Europe has reduced its share of Russian LNG imports, China has increased its share to around 21 percent. Meanwhile, the US has become the largest LNG supplier to the EU, replacing Russia.
In Belgium, Engie closed the Tihange 1 nuclear reactor after 50 years of operation, further reducing the country's energy independence. Greenpeace launched an action to block the Fluxys LNG terminal in Zeebrugge to protest Europe's continued support of Russia through LNG imports. Despite these efforts, Russia's tax revenue from the Yamal LNG project has increased since the invasion of Ukraine. Between 2022 and mid-2025, France, Spain, Belgium, and the Netherlands imported a combined €33.2 billion worth of LNG from Russia, with Russia receiving approximately $9.5 billion (€8.1 billion) in tax profits. Notably, Belgium spent more on Russian LNG than on its aid to Ukraine since the war's outbreak.
The continued import of Russian LNG by European countries, despite efforts to diversify energy sources, has resulted in significant tax revenue for Russia. This revenue could potentially fund military equipment, underscoring the need for a more concerted effort to reduce Europe's reliance on Russian energy.
