Full Title: European and U.S. Energy Companies are Responsible for Nearly USD 100 Billion to Putin’s War Chest Since Crimea Invasion
Author(s): Lorne Stockman, David Tong, Tim Donaghy, Murray Worthy, Zorka Milin
Publisher(s): Oil Change International, Global Witness, Greenpeace USA
Publication Date: March 23, 2022
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Description (excerpt):
Revenues from oil and gas projects backed by European and U.S. companies have fueled Vladimir Putin’s regime to the tune of nearly USD 100 billion since 2014. While the Russian government has benefited from majority state-owned or state-controlled oil companies such as Gazprom and Rosneft, European and U.S.-based corporations have also spearheaded large oil and gas projects that filled Putin’s coffers. These oil majors have long sought access to Russia’s vast hydrocarbon reserves, and in many cases brought the technological and operational expertise needed to realize projects.