Image source, Getty ImagesAccording to a report, Russia earned over $90 billion from oil and gas exports during the first 100 days of the war in Ukraine.
The Centre for Research on Energy and Clean Air found that revenue has fallen since March as many countries have stopped buying Russian supplies.
Efforts to curb imports from Russia have been warned of possible loopholes.
The EU, US and UK have pledged to reduce their imports from Russia.
In the first 100 days of the conflict in Ukraine, Russia earned over $100 billion from fossil fuel exports.
The European Union made up more than half of the imports.
Moscow's revenue from energy sales has fallen from a peak of over $1 billion a day in March.
During the first 100 days of the war, revenues were more than the cost of the conflict.
Russian oil imports will be banned by the EU by the end of 2022, which will cut imports in half.
It hasn't been able to agree on banning everything.
The US has banned Russian oil, gas and coal imports. By the end of the year, the UK will stop buying Russian oil.
The embargo would have a significant impact according to the report.
It warned that large quantities of Russian crude oil were being shipped to India, which increased its share of Russia's total crude exports to 18%.
An important loophole to close is the fact that a significant share of this is being refined and sold to customers in the US and Europe.
The scope for this practice would be limited by the strong sanctions against the Russian oil industry.
Most of the vessels used to transport oil in Russia are owned by European and US companies, according to the report.
India was one of the countries that increased their imports of Russian fuel.
A lot of bad news is contained in this report. The war in Ukraine is still being funded by energy sales, despite efforts to reduce demand.
Pressure on Moscow will tell in the end. A partial EU embargo on Russian oil is expected to cut revenues by $36 billion a year. There are plans to reduce Europe's dependence on Russia even further.
embargoes have to work. Russia is exporting more and more oil to India for refining. Some of the refined products are going back to Europe.
The EU ban doesn't cover refined products.
There is growing demand for vessels to carry oil from Russia to new markets. European companies own most of the oil tanker's.
Pressure on Russia to be most effective will need to be addressed.
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