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Who’s Still Buying Fossil Fuels From Russia?

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chart of Russian fossil fuel exports since invasion

The Largest Importers of Russian Fossil Fuels Since the War

Despite looming sanctions and import bans, Russia exported $97.7 billion worth of fossil fuels in the first 100 days since its invasion of Ukraine, at an average of $977 million per day.

So, which fossil fuels are being exported by Russia, and who is importing these fuels?

The above infographic tracks the biggest importers of Russia’s fossil fuel exports during the first 100 days of the war based on data from the Centre for Research on Energy and Clean Air (CREA).

In Demand: Russia’s Black Gold

The global energy market has seen several cyclical shocks over the last few years.

The gradual decline in upstream oil and gas investment followed by pandemic-induced production cuts led to a drop in supply, while people consumed more energy as economies reopened and winters got colder. Consequently, fossil fuel demand was rising even before Russia’s invasion of Ukraine, which exacerbated the market shock.

Russia is the third-largest producer and second-largest exporter of crude oil. In the 100 days since the invasion, oil was by far Russia’s most valuable fossil fuel export, accounting for $48 billion or roughly half of the total export revenue.

Fossil fuelRevenue from exports (Feb 24 - June 4)% of total Russian fossil fuel export revenue
Crude oil$48.3B49.4%
Pipeline gas$25.2B25.8%
Oil products$13.6B13.9%
Liquified Natural Gas (LNG)$5.4B5.5%
Coal$5.0B5.1%
Total$97.7B100%

While Russian crude oil is shipped on tankers, a network of pipelines transports Russian gas to Europe. In fact, Russia accounts for 41% of all natural gas imports to the EU, and some countries are almost exclusively dependent on Russian gas. Of the $25 billion exported in pipeline gas, 85% went to the EU.

The Top Importers of Russian Fossil Fuels

The EU bloc accounted for 61% of Russia’s fossil fuel export revenue during the 100-day period.

Germany, Italy, and the Netherlands—members of both the EU and NATO—were among the largest importers, with only China surpassing them.

CountryValue of fossil fuel imports from Russia (Feb 24 - June 4)% of total Russian fossil fuel export revenue
China 🇨🇳$13.2B13.5%
Germany 🇩🇪$12.7B12.9%
Italy 🇮🇹$8.2B8.4%
Netherlands 🇳🇱$8.2B8.4%
Turkey 🇹🇷$7.0B7.2%
Poland 🇵🇱$4.6B4.7%
France 🇫🇷$4.5B4.6%
India 🇮🇳$3.6B3.7%
Other 🌍$35.7B36.5%
Total$97.7B100%

China overtook Germany as the largest importer, importing nearly 2 million barrels of discounted Russian oil per day in May—up 55% relative to a year ago. Similarly, Russia surpassed Saudi Arabia as China’s largest oil supplier.

The biggest increase in imports came from India, buying 18% of all Russian oil exports during the 100-day period. A significant amount of the oil that goes to India is re-exported as refined products to the U.S. and Europe, which are trying to become independent of Russian imports.

Reducing Reliance on Russia

In response to the invasion of Ukraine, several countries have taken strict action against Russia through sanctions on exports, including fossil fuels. 

The U.S. and Sweden have banned Russian fossil fuel imports entirely, with monthly import volumes down 100% and 99% in May relative to when the invasion began, respectively.

importers of russian fossil fuels

On a global scale, monthly fossil fuel import volumes from Russia were down 15% in May, an indication of the negative political sentiment surrounding the country.

It’s also worth noting that several European countries, including some of the largest importers over the 100-day period, have cut back on Russian fossil fuels. Besides the EU’s collective decision to reduce dependence on Russia, some countries have also refused the country’s ruble payment scheme, leading to a drop in imports. 

The import curtailment is likely to continue. The EU recently adopted a sixth sanction package against Russia, placing a complete ban on all Russian seaborne crude oil products. The ban, which covers 90% of the EU’s oil imports from Russia, will likely realize its full impact after a six-to-eight month period that permits the execution of existing contracts. 

While the EU is phasing out Russian oil, several European countries are heavily reliant on Russian gas. A full-fledged boycott on Russia’s fossil fuels would also hurt the European economy—therefore, the phase-out will likely be gradual, and subject to the changing geopolitical environment.

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The State of Copper Recycling in the U.S.

This graphic explores how recycling copper can help address the demand for the metal in the U.S.

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The-State-of-Copper-Recycling-in-North-America

The State of Copper Recycling in the U.S.

Copper is essential for a low-carbon economy due to its crucial role in renewable energy technologies.

As a result, many worry that a lack of the metal used in wires and batteries can hurt a transition to a green economy.

In this graphic, our sponsor, the Copper Development Association, explores how recycling can address the demand for copper.

Copper Scrap Recycled in the U.S.

In 2022, the total copper scrap recycled in the U.S. was approximately 830,000 tonnes, equivalent to 32% of the total U.S. copper supply for the same period. Around 670,000 tonnes (81%) originated from pre-consumer sources generated during manufacturing operations, while 160,000 tonnes (19%) came from post-consumer sources, such as obsolete products.

Brass and wire-rod mills accounted for the majority of the copper recycled from scrap (85%). Additionally, smelters, refiners, and ingot makers make 10% and chemical plants, foundries, and other manufacturers around 5%.

Copper from Scrap2022 Content (tonnes)
Brass and wire-rod mills650,000 t
Smelters and refiners40,000 t
Ingot makers39,500 t
Foundries, Other40,000 t

Despite the rising demand for copper, the U.S. predominantly exports its copper scrap.

In 2022, the U.S. exported half of the 1,569,000 tonnes of the copper content generated from scrap. This export trend persisted because, until recent years, the country lacked operating secondary copper smelters capable of processing complex scrap grades into furnace-ready raw materials.

However, reshoring this metal presents an opportunity for the country.

Tapping into the Urban Mine

North America currently has about 86 million tonnes (Mt) of copper in use, known as the Urban Mine. This copper will become available for recycling as aging infrastructure and products reach the end of their service lives:

  • Buildings: 45.4 Mt
  • Infrastructure: 16.1 Mt
  • Consumer Products: 11.2 Mt
  • Transport: 8.5 Mt
  • Industrial Uses: 4.8 Mt

Increased secondary smelting and refining capacity is a crucial building block for a more resilient and self-sufficient U.S. copper supply chain.

In response to the growing need for copper, the U.S. plans to add over 280,000 tonnes of secondary smelting and refining capacity in the next few years. This expansion will enable the country to process more complex scrap grades domestically.

Given that copper products can last for decades, creating a lag time before the material becomes available for recycling, primary production will continue to play an important role in meeting the increasing needs in the U.S.

The Copper Development Association (CDA) brings the value of copper and its alloys to society to address the challenges of today and tomorrow. Visit www.copper.org to learn more about why copper is a critical mineral.

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Why Copper Is Critical for Data Centers

Copper consumption for data centers in North America is estimated to jump from 197,000 tonnes in 2020 to 238,000 tonnes in 2030.

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Copper’s Critical Role in Data Centers

Why Copper Is Critical for Data Centers

Data centers are computer server hubs that collect, store, and process large amounts of data, requiring extensive network infrastructure and electric power supply.

As the North American data center market grows, copper will be a key building block in this infrastructure.

This infographic from the Copper Development Association illustrates the critical role of copper in data center development.

Copper in Technology

Much has been said about the growing demand for critical minerals like copper, nickel, and lithium for clean technologies such as batteries, EVs, solar, and wind power.

Copper, however, has a more extensive role in technology as it is used in wires that connect power grids and data centers around the planet.

As one of the best conductors of electricity, copper maximizes efficiency in the transmission and distribution of electricity. Its thermal conductivity also helps build efficient heat exchangers, which are vital for cooling in data centers.

The inherent ductility and malleability of copper make it ideal for shaping into compact system components, like electrical connectors. In addition, copper can be fully recycled without losing any beneficial properties, providing an excellent solution in a growing green economy.

Data centers use copper across various electrical applications, including:

  • Power cables
  • Busbars
  • Electrical connectors
  • Heat exchangers and sinks
  • Power distribution strips

To put the demand into perspective, Microsoft’s $500 million data center in Chicago required 2,177 tonnes of copper for construction.

North America’s Growing Need for Copper

With the rise of cloud computing and the Internet of Things (IoT), the North American data center market is expanding.

North American data center infrastructure is expected to grow from a $33 billion business in 2020 to $70 billion in 2030 and $185 billion in 2040.

This, in turn, will amplify the demand for copper. Copper consumption for data centers is estimated to jump from 197,000 tonnes in 2020 to 238,000 tonnes in 2030 and 293,000 tonnes in 2040.

The Copper Development Association (CDA) brings the value of copper and its alloys to society to address the challenges of today and tomorrow. Visit www.copper.org to learn more about copper’s critical role in data centers.

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