Ukrainian President Volodymyr Zelensky has condemned a US decision to extend the period during which Russia is allowed to sell oil despite Western sanctions. The move means countries can purchase Russian oil and petroleum products that are already loaded on vessels at sea until May 16. The US argues that the waiver is meant to ease the energy supply crunch sparked by the US-Israel war with Iran. However, in his remarks on Sunday, Zelensky stated that 'every dollar paid for Russian oil is money for the war' in Ukraine, highlighting how the funds from oil sales directly support Russia’s military efforts.
Widespread sanctions against Russia have been in place since President Vladimir Putin's invasion of Ukraine in February 2022. The recent retaliatory measures from Iran in response to US and Israeli military actions have only added to the complexity of the energy crisis, shutting the Strait of Hormuz and causing turmoil in global energy markets. This has led to fears of a potential world recession if the strategic passage is not reopened soon.
Zelensky noted that Russia's ability to continue oil exports undermines the sanctions' effectiveness, with his government estimating that Russia has over 110 tankers from a 'shadow fleet' capable of transporting more than 12 million tons of oil. The anticipated revenue from these operations is projected at around $10 billion, equating to resources that could lead to more strikes against Ukraine.
Despite the escalating attacks from Russia, which have included 2,360 drones and over 1,300 guided bombs in the last week alone, the conflict remains in a stalemate, with approximately 20% of Ukrainian territory under Russian control. Efforts led by the US to catalyze negotiations have been stalled amid the ongoing war in Iran, complicating the landscape for both energy supplies and geopolitical stability.
Widespread sanctions against Russia have been in place since President Vladimir Putin's invasion of Ukraine in February 2022. The recent retaliatory measures from Iran in response to US and Israeli military actions have only added to the complexity of the energy crisis, shutting the Strait of Hormuz and causing turmoil in global energy markets. This has led to fears of a potential world recession if the strategic passage is not reopened soon.
Zelensky noted that Russia's ability to continue oil exports undermines the sanctions' effectiveness, with his government estimating that Russia has over 110 tankers from a 'shadow fleet' capable of transporting more than 12 million tons of oil. The anticipated revenue from these operations is projected at around $10 billion, equating to resources that could lead to more strikes against Ukraine.
Despite the escalating attacks from Russia, which have included 2,360 drones and over 1,300 guided bombs in the last week alone, the conflict remains in a stalemate, with approximately 20% of Ukrainian territory under Russian control. Efforts led by the US to catalyze negotiations have been stalled amid the ongoing war in Iran, complicating the landscape for both energy supplies and geopolitical stability.
