Zelenskyy warns US sanctions relief gives Russia $10 billion for war
President of Ukraine Volodymyr Zelenskyy (photo: Getty Images)
US easing of sanctions on Russian oil could bring Russia up to $10 billion — and this money will go to war, Ukrainian President Volodymyr Zelenskyy said at a joint press conference with French President Emmanuel Macron.
$10 billion that Russia will spend on the war
Zelenskyy reacted to the US decision to partially ease sanctions against Russian oil that is currently on tankers at sea.
"Just this one easing from America could give Russia about $10 billion for the war. This certainly does not help peace," he said.
Sanctions are a weapon, not a formality
The president stressed that Russia spends money from energy sales on weapons.
"Lifting sanctions will lead to strengthening Russia's position. It spends money from the sale of energy resources on weapons, and all of this then flies against us," Zelenskyy explained.
He noted that he hears arguments about "stabilizing the situation," but does not share such logic.
Zelenskyy also recalled that the same drones used to strike Ukraine are already being recorded in other countries.
"These same drones are used against Iran's neighbors, Europeans, and Americans. Therefore, lifting sanctions so that more drones then fly at you — in my opinion, this is not the right decision," he said.
Separately, Zelenskyy called to overcome the blocking of the EU's 20th package of sanctions against Russia. According to him, without constant pressure on the aggressor, it is impossible to achieve lasting peace.
In February, Russia's revenues from oil exports fell to the lowest level since the beginning of the full-scale invasion of Ukraine.
The global oil market is experiencing an unprecedented crisis due to the conflict in the Middle East.
The halt of tankers, strikes on oil infrastructure, and supply disruptions have cut production by millions of barrels and pushed prices up.
Meanwhile, in Ukraine, the price of diesel is rising every day. Despite this, the Cabinet of Ministers is not going to reduce fuel taxes. Instead, the government has prepared another instrument that it considers effective.
