In 2025, Europe's dependency on Russian gas stands at around 15% of total imports, down from 45% in 2021. Oil imports from Russia have fallen to a mere 2%. These shifts reflect ongoing efforts to reduce reliance amid geopolitical tensions.
Current Oil Import Levels
Europe's oil imports from Russia declined dramatically after bans. According to Eurostat, the share dropped from 29% in early 2021 to 2% by mid-2025.
Hungary and Slovakia continue receiving crude via the Druzhba pipeline. They imported around €200 million and €170 million respectively in July 2025.
Overall, EU payments for Russian fossil fuels totaled €979 million in August 2025. Natural gas formed a key part.
Gas Dependency Trends
Russian liquefied natural gas makes up 12.9% of EU imports in Q2 2025. Pipeline gas accounts for about 15%.
Belgium, France, and Spain lead in LNG purchases. They bought €300 million, €230 million, and €90 million in recent months.
EU imports of Russian gas rose 5% in the first half of 2025. This totaled €8.4 billion despite phase-out plans.
As analyst Velina Tchakarova notes, Russian LNG now comprises 16% of EU LNG imports.
Key Challenges in Reduction
Sanctions exempt some gas flows, sustaining revenues for Russia. Europe paid €8.1 billion for shipped gas recently.
Diversification boosts US supplies to 57.7% of LNG. Yet, Russian shares persist.
Innovations in Energy: Role of Blockchain and NFTs
Blockchain transforms the energy sector by enabling secure trading. The market for blockchain in oil and gas hits $984.4 million in 2024, growing at 41.9% CAGR.
Non-fungible tokens (NFTs) tokenize real-world assets like oil royalties. This makes investments accessible globally.
One World Petroleum launched a tokenized upstream oil and gas fund on Hedera. It uses NFTs for compliant, liquid assets.
As Zoniqx states, this opens energy investing to more people with transparency.
NFTs for Supply Chain Tracking
NFTs ensure traceability in energy supply chains. They verify origins, aiding diversification from single sources.
Blockchain enables peer-to-peer energy trading via NFTs. This reduces dependency on traditional imports.
Investment in blockchain for energy reaches $5.8 billion by 2025. Microgrids play a key role.
Expert Insights
"Blockchain is moving beyond cryptocurrencies," says Ariel Cohen from Forbes. The energy sector market exceeds $1.5 billion by 2026.
According to Global Market Insights, blockchain enhances data exchange in oil and gas. It builds supply chain credibility.
These technologies provide tools for Europe to secure alternative supplies. They promote efficiency and sustainability.
Future Outlook
Europe aims to end Russian imports by 2027. Increased US and Algerian supplies help.
Renewables and efficiency measures accelerate the transition. Yet, current levels fund Russia's economy.
Integrating NFTs in energy markets enhances transparency and investment. This relevance lies in empowering diversified, traceable energy trades amid geopolitical shifts.
