Baltic States Earn USD 1.7 Billion a Year from Transport of Russian Oil

The Baltic states earn USD 1.7 billion a year from the transport of Russian oil through their territory. This figure was given by Stanislav Tkachenko, deputy dean of the Faculty for International Relations at St. Petersburg State University, at the international Prospects for Cooperation in the Baltic Sea Region conference. Tkachenko estimates that 60% of Russian oil exports go through the Baltic states. He added that income from the transport of Russian oil accounts for 7-9% of Estonia's GNP and 8-10% of Latvia's GNP.