Written: 2022-08-22 14:29:04 / Updated: 2022-08-22 14:55:58
A Finland-based think tank has estimated that South Korea bought $1.7 billion worth of Russian fossil fuels, despite sanctions imposed by Western countries against Moscow following the invasion of Ukraine by the country.
The Center for Energy and Clean Air Research (CREA) claimed on Monday that South Korea, Japan and Taiwan collectively imported fossil fuels worth five point five billion dollars between Feb. , when Russia launched its invasion, and at the end of July.
The think tank estimated that Japan bought the largest amount, about two point six billion dollars, and Taiwan the least by one point two billion dollars.
While Seoul reportedly imported $656 million worth of coal, the volume of imports fell 58 percent year-on-year in July, which the institute said may reflect the country’s efforts to comply with Western sanctions.
The institute noted that while the three Asian countries expressed support for Ukraine, their fossil fuel purchases helped fund the Russian invasion.
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