The most significant form of Russian imported energy has been crude oil.
In Europe increasingly tough sanctions are being discussed against Russia as new and shocking news of the country’s troops in Ukraine continues to emerge.
Energy trade has so far been spared EU sanctions. Western countries are financing Russia by buying oil and gas from it, according to some estimates, for $ 660 million a day. The demands to close that coin are getting tougher.
On Tuesday, the European Commission announced that EU countries will stop importing coal from Russia. About 45% of the coal used by the EU comes from Russia. The largest users are Germany, the Netherlands and Poland.
The value of oil and gas imports from Russia to Europe is more than EUR 100 billion a year, so the importance of coal is modest. The President of the Commission Ursula von der Leyenin however, the commission is already preparing additional sanctions that would also apply to oil.
Russia is also a really important energy importer for Finland. According to the latest figures for 2020, more than 64 percent of the energy imported to Finland came from Russia. For example, about 95 percent of the coal imported to Finland came from Russia.
For many products, on the other hand, the numbers are likely to have started to change since Russia launched a large-scale invasion of Ukraine on 24 February.
For example, a Finnish oil refiner Liquid has said that it has replaced most of its Russian crude oil procurement with other grades of crude oil. On the other hand, the company is partly due to long contracts tied to Russian oil until the end of this year.
Mixed In terms of value, the most significant form of Russian imported energy in Finland is crude oil.
In 2020, Finland imported about 9 million tonnes of crude oil from Russia. The value of crude oil imports was approximately EUR 2,271 million.
Russia accounted for 85.6 percent of Finland’s crude oil imports.
Second the most significant part of the energy imported from Russia is natural gas.
In 2020, about 1.5 million cubic meters of natural gas were imported from Russia to Finland. The value of natural gas imports was EUR 232 million.
In addition, liquefied natural gas was imported from Russia worth EUR 38.4 million, or 137,000 tonnes.
Russia accounted for 66.4 per cent of Finland’s natural gas imports and 81.9 per cent of liquefied natural gas imports.
The importance of natural gas is small in Finland compared to gas-heated Central Europe. It accounts for only about seven percent of all energy used in Finland.
According to experts, shutting down Russia’s natural gas taps could bring problems mainly to the gas-consuming industry.
Coal Russia’s share of imports has been particularly dominant. 94.9 percent of Finland’s coal was imported from Russia in 2020.
1,319 tons of coal were imported from Russia. The value of imports from Russia was EUR 73.9 million.
Various refined oils are also a significant part of Russia’s energy imports.
For example, middle distillates, which include diesel, were imported from Russia to the value of EUR 134.9 million, or about 390,000 tonnes.
Other oils, naphtha and other kerosene have also been imported, each worth more than EUR 100 million.
Energy tree does not account for a significant share of total energy imports.
In the statistics for 2020, other energy wood has been imported from Russia for EUR 4.2 million. The volume of other energy wood imports to Russia has been 142.4,000 tonnes.
The share of Russian imports in other energy wood has been 35.6 per cent.
In wood pellets, the share of Russian imports has been higher, 88 percent.
The volume of wood pellets imported into Russia has been 98,400 tonnes and EUR 11.7 million in monetary terms.
Russia set in March export ban on, inter alia, energy chipsand even before that, large forest companies had announced that they would stop buying wood from Russia.
Electricity 3 terawatt hours were imported from Russia in 2020. The amount accounted for less than 14 percent of electricity imports.
The value of Russian imports in electricity trade was EUR 93 million.
In its statement three weeks ago, the energy industry stated that the cessation of energy imports from Russia would put a strain on the electricity system, but would not jeopardize it.
According to the energy industry, the introduction of the Olkiluoto 3 nuclear reaction and the increase in wind power will significantly increase Finland’s energy self-sufficiency.
Read more: Commission bans coal imports from Russia, denies Russian ships access to EU ports
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