Ukraine's response to US sanctions: Reduced Russian oil revenue and global impact
Photo: The President's Office commented on the new US sanctions against Russia (Getty Images)
Ukraine expects that after the new US sanctions against Russia, the world will lose its appetite for Russian oil. Additionally, there will be an increase in drilling and delivery costs, as well as losses in Russia's oil revenues in the near future, Vladyslav Vlasiuk, the Presidential Commissioner for Sanctions Policy, told RBC-Ukraine in a commentary.
Vlasiuk noted that the US has imposed comprehensive sanctions on Russia's oil sector, targeting more than 400 companies, individuals, and various jurisdictions.
The sanctions include tankers transporting Russian oil, Gazprom Neft, and Surgutneftegaz, as well as a Chinese oil terminal that accepted Russian gas shipments.
According to the presidential envoy, an important aspect of the sanctions is the ban on providing oilfield services to Russia, a sector that was still being handled by the Schlumberger company.
"As a result, we expect a loss of appetite for Russian oil worldwide, an increase in drilling and delivery costs, and losses in Russia's oil revenues in the near future," Vlasuk stated.
Zelensky's response
Ukrainian President Volodymyr Zelenskyy thanked US President Joe Biden, his administration, and the entire American people for announcing a new sanctions package today against more than 400 entities connected to Russia's energy sector.
"These measures significantly undermine the financial foundation of the Russian military machine, as they disrupt the supply chain: key Russian producers, insurance companies, oil and gas service providers, 184 tankers of the shadow fleet, logistics facilities, and third-party companies," the president noted.
He specifically highlighted the pressure on companies like Surgutneftegaz, a key financial source for Putin himself.
"These actions send a clear message: criminals must pay for their crimes. The less revenue Russia receives from oil and other energy resources, the sooner peace will be restored," Zelenskyy emphasized.
According to him, energy resources should not be used as weapons, as Russia does. Instead, countries that respect international law can and must ensure stable and reliable energy supplies for the whole world.
"We are sincerely grateful for America's leadership in holding Russia accountable. I am confident these steps will significantly reduce Russia's oil dollar revenues, and with them, its ability to continue aggression," the president added.
Sanctions against Russian oil companies
On Friday, January 10, the US imposed sanctions on more than 30 Russian oilfield service companies. At the same time, restrictions also targeted a Serbian company linked to Gazprom Neft.
The UK also introduced sanctions against Russian companies Gazprom Neft and Surgutneftegaz. These restrictions will impact Russia's oil revenue.
As reported by Reuters, the new US sanctions on Russian oil companies are the most extensive restrictions imposed on the energy sector of the aggressor country. Russia could lose billions of dollars each month.
Additionally, it was previously reported that US sanctions could also affect Russian oil supplies to India.
