Russian oil exports fuel missile strikes on Ukraine, defense minister Fedrorov says
Mykhailo Fedorov (photo: facebook.com mykhailofedorov.com.ua)
Russia has increased crude oil exports to obtain more money and cover the budget deficit caused by the war. Therefore, it is necessary to restrict its oil refining and put pressure on the shadow fleet, Ukraine's defense minister Mykhailo Fedorov said at a meeting with journalists dedicated to the first month of work of the renewed Defense Ministry team.
"The Defense Ministry team is actively joining the economic war. The task is to work on blocking the Russian shadow fleet. We have taken this on as a systemic project where there is a large responsible team and expertise," he said.
Fedorov noted that the Defense Ministry will actively work on restricting oil refining in Russia and on other important directions.
The minister added that cooperation has already begun with Ukrainian and international institutes, nongovernmental organizations, and services to unite them around a common goal.
"Russia launches missiles at us straight from the conveyor. That is why they increased crude oil exports — they need cash. Their budget deficit is growing. So we need to keep pressing further because we are approaching a pain point," Fedorov emphasized.
Sanctions against Russia
At the beginning of February, the European Commission presented a draft of the twentieth sanctions package against Russia, which was planned to be adopted by February 24 — anniversary of the full-scale invasion.
The main focus of the new restrictions is on the energy and financial sectors of Russia. In particular, it is proposed to introduce a full ban on maritime services for the transportation of Russian oil, expand the list of shadow fleet vessels to 640, and restrict their servicing.
At the same time, several European Union countries advocate softening certain provisions of the package. In particular, proposals for sanctions against foreign ports and banks that, according to the European Commission, help Russia circumvent oil restrictions are causing discussions.
According to media information, possible sanctions against strategic ports in Georgia and Indonesia caused concern.
In addition, Italy and Spain, according to sources, object to restrictions regarding banks in Cuba, which is the only financial institution on the island that works with foreign currency and serves diplomats and citizens of the European Union.
