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The report analyzes the climate implications of the European Union's phaseout of Russian oil imports. It argues that while replacing Russian crude is complex due to refinery specifications, the EU has an opportunity to reduce supply-chain emissions by selecting lower-intensity alternatives and transitioning toward clean energy infrastructure.

This case study examines Russia's economic and fiscal dependence on fossil fuels, detailing the sector's contribution to government revenue, the role of state-owned enterprises, and the fiscal implications of energy transition and climate policies.