War Balance
Stakes in Russian oil and gas projects: every country since 2022
One part of how much more or less Russia kept from trade with each country than in a world without the war (taxes and profit, not the sales value). From 2022 to August 2026, 8 countries have this part; the table starts with the United Kingdom, Germany and the United States.
These numbers measure money: aid to Ukraine and the change in what Russia keeps from trade, against a world without the war. Weapons count at their money value: aid at market value when delivered, weapons and troops sent to Russia at the seller's gain where Russia paid and in full where it did not. Votes, diplomacy and intent are not in them.
Ranking · 8
Sorted by “Stakes in Russian oil and gas projects” in euros, by size, either way, 2022 to August 2026. + toward Ukraine, − toward Russia; more or less: how much more or less Russia kept (taxes and profit, not sales) than in a world without the war.
| # | Country | Stakes in Russian oil and gas projects | Russia kept from trade, vs no war | Net |
|---|---|---|---|---|
| 1 | United Kingdom | +€7bn+0.22% of GDP · +€101 per personrange +€3.6bn to +€9.9bn | €34.9bn less1.1% of GDP lessvery likely · >99% | +€58.4bn+1.8% of GDPvery likely · >99% |
| 2 | Germany | +€2.2bn+0.05% of GDP · +€27 per personrange +€0.86bn to +€4bn | €72.6bn less1.7% of GDP lessvery likely · >99% | +€153bn+3.7% of GDPvery likely · >99% |
| 3 | United States | +€2bn<0.01% of GDP · +€6 per personrange +€1.1bn to +€3.3bn | €47.4bn less0.18% of GDP lessvery likely · >99% | +€132bn+0.51% of GDPvery likely · >99% |
| 4 | Japan | −€1.7bn−0.04% of GDP · −€14 per personrange −€3.4bn to +€0.66bn | €6.5bn less0.16% of GDP lessnear zero · 94% toward Ukraine | +€12.2bn+0.30% of GDPvery likely · >99% |
| 5 | India | +€1.2bn+0.04% of GDP · +€1 per personrange −€0.57bn to +€2.6bn | €70.5bn more2.2% of GDP morevery likely · >99% | −€70.6bn−2.2% of GDPvery likely · >99% |
| 6 | Austria | +€0.90bn+0.19% of GDP · +€98 per personrange +€0.38bn to +€1.6bn | €2.4bn more0.51% of GDP morelikely toward Russia · 67% | +€2.1bn+0.45% of GDPlikely toward Ukraine · 68% |
| 7 | China | −€0.42bn<0.01% of GDP · <€1 per personrange −€2.7bn to +€0.40bn | €128bn more0.74% of GDP morevery likely · >99% | −€128bn−0.75% of GDPvery likely · >99% |
| 8 | France | −€0.25bn<0.01% of GDP · −€4 per personrange −€1.8bn to +€1.9bn | €20.2bn less0.72% of GDP lesslikely toward Ukraine · 94% | +€43.6bn+1.6% of GDPvery likely · >99% |
Each row: the best estimate, then its range in the same unit and sign. The chances of the direction are for each country's totals, on its page.
Related
- Russia's gain on fuel and goods it sold
- Russia's gain from war-time fuel prices
- Sellers' gain on sales to Russia
- Extra price Russia paid because of sanctions
- Company taxes paid in Russia
- Company profits in Russia
- Services bought from Russia
- Services sold to Russia
Ranking · Support for Ukraine by country · Trade with Russia by country · All topics · How it works
УкраїнськаDeutschFrançaisPolskiNederlandsEspañol
Cite as: War Balance, figures to August 2026, https://warbalance.org/stakes-in-russian-oil-and-gas-projects/