Economic security
Dominating those exports is crude oil—not natural gas. About 40 percent of Russia's state budget consists of revenues from crude oil export tariffs, and less than 10 percent from natural gas. Moreover, the private income generated from oil exploration, drilling, and transport comprises a large chunk of Russian industry, and is vital to the functioning of Russia's economy. Most of that oil and gas goes to EU markets through pipelines, as Russia has only a small tanker fleet and insufficient infrastructure to export large volumes of oil via the sea.
Dominating those exports is crude oil—not natural gas. About 40 percent of Russia's state budget consists of revenues from crude oil export tariffs, and less than 10 percent from natural gas. Moreover, the private income generated from oil exploration, drilling, and transport comprises a large chunk of Russian industry, and is vital to the functioning of Russia's economy. Most of that oil and gas goes to EU markets through pipelines, as Russia has only a small tanker fleet and insufficient infrastructure to export large volumes of oil via the sea.
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