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Five Charts Explaining the Global Impact of Sanctions on Russian Energy Exports

Energy

By Matthew Hagerty  |  March 11, 2022

Global energy prices have soared over the last two weeks as events unfolded at the Russia-Ukraine border. One major development has been the economic sanctions imposed on Russia and, just this week, the U.S. announced a ban on U.S. imports of Russian oil, natural gas, and coal. Here are five charts highlighting the significance of Russia in global energy markets.

Russia is one of the largest global producers of both oil and gas. Significant sanctions against Russia’s energy industry would have wide-reaching implications for both global oil and gas markets.

russia-share-of-global-crude-and-gas-production-new

Even before the invasion of Ukraine, Europe’s gas inventory was well below levels seen since 2021, and Russian imports have historically been a key source of supply to replenish storage.

europe-gas-in-storage

Highlighting the challenges of European energy sanctions, Russian gas flows into Western Europe via Ukraine and Belarus are up 23% since the invasion of Ukraine.

russian-gas-flows-into-western-europe-new

European gas prices signal high demand for liquified natural gas (LNG), but U.S. LNG exports are already at capacity.

us-europe-natural-gas-prices-us-lng-exports

Sanctions on U.S. imports of Russian crude and petroleum products impact less than 10% of U.S. imports.

us-imports-russian-petroleum-products-crude

Disclaimer: This blog post is for informational purposes only. The information contained in this blog post is not legal, tax, or investment advice. FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.

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Matthew Hagerty

Senior Energy Strategy Analyst

Mr. Matt Hagerty is a Senior Energy Strategy Analyst at FactSet. In this role, he manages FactSet’s data offering for oil and gas emissions, while also leading analysis and presentations for bespoke consulting engagements covering oil and gas assets. Prior, he was a senior energy analyst at BTU Analytics, which was acquired by FactSet in 2021. He also worked as an energy research associate at Bloomberg Intelligence covering North American E&P and oilfield services. Mr. Hagerty earned a B.S. in Finance from Tulane University.

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The information contained in this article is not investment advice. FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.