On 2026-10-12, Russian Deputy Prime Minister Alexandre Novak appeared on television and asserted that Europe had purchased more than $320 billion worth of hydrocarbons from Russia since the start of 2022. He framed the figure as the total volume of energy deliveries to the countries of the European Union over that period.
Novak went on to specify that the total included $21.3 billion in purchases made during the first nine months of 2026. This number, he said, reflects the ongoing flow of Russian oil and gas into European markets even as the war in Ukraine continues.
He acknowledged that multiple European Union sanctions remain in place, but stressed that many European nations, including France, Slovakia and Hungary, continue to source energy from Russia. According to Novak, these purchases happen under specific exemptions that allow deliveries in sectors where waivers have been granted.
7 billion figure does not capture indirect flows of Russian hydrocarbons that reach Europe after being processed in third countries.
The deputy prime minister pointed out that France, Slovakia and Hungary are among the countries still buying Russian liquefied natural gas and pipeline oil. He noted that deliveries continue in sectors where waivers have been granted.
Novak made clear that the $320.7 billion figure does not capture indirect flows of Russian hydrocarbons that reach Europe after being processed in third countries. He highlighted that India, Turkey and China have significantly increased their purchases of Russian crude oil since 2022, and that refined products from those states can eventually end up in European markets.
The statement drew criticism from US officials, including former President Donald Trump. Trump announced an agreement for Russia to supply diesel to global markets in an effort to stabilize rising prices. According to the announcement, the projected delivery volume is between 3 and 3.5 million tons per month by the end of the year.
As of the 2026-10-12 announcement, Russian energy deliveries to Europe persist in the sectors covered by waivers, while the reported figures exclude the indirect routes through India, Turkey and China. The statement drew criticism from US officials, while Moscow highlighted the waiver‑based trade.