Despite the self-sanctioning of many European buyers of Russian oil, Moscow continues to export its oil, and Europe continues to pay for and import Russian natural gas. While the U.S. banned imports of all Russian energy exports, including oil, liquefied natural gas (LNG), and coal, the European Union hasn’t had the luxury to do so, because it depends on Russian oil for around one-fourth of its supply and on Russian gas for some one-third of its gas consumption.
