Russia will never return to 2021 levels of oil exports after a rupture in energy trading sparked by its invasion of Ukraine, the International Energy Agency (IEA) says.
The country’s net oil exports will fall by one-quarter by 2030 and by 40% to 2050 from current levels after losing Europe as its biggest customer, sparking a crisis in energy security and pushing nations towards achieving renewables targets, the agency said in its annual outlook report on Thursday.
