Ukrainian President Volodymyr Zelensky, during a joint press conference with French President Emmanuel Macron, stated that the recent easing of US sanctions on Russian oil could replenish the budget of the Russian Federation by $10 billion. According to him, this money could be used to finance the war against Ukraine, which increases the security threat in the region.
This is reported by Kyiv24
Concerns Over Temporary US License
Zelensky emphasized that any easing of sanctions only strengthens Russia’s position. He pointed out that revenues from oil sales are primarily used to purchase weapons, and decisions such as the temporary lifting of restrictions do not contribute to achieving peace. The president also noted that, according to intelligence data, the drones purchased by Russia are being used against other countries, including states in the Middle East and European partners of the US.
“This single easing by America could provide Russia with about $10 billion for the war. This certainly does not help peace. Therefore, the determination of the European Union, the determination of other partners in the world must now be maintained and work so that Russia has no additional illusions. Russia must end this war,” Zelensky stated.
France’s Position and EU Reaction
French President Emmanuel Macron reminded of the G7 summit decision, where all participants agreed not to revise the sanctions policy regarding the Russian Federation. According to him, the current easing by the US is only a temporary measure, and the sanctions remain in effect. European states, as Macron emphasized, advocate for the continuation of already imposed restrictions, considering their cessation unjustified.
On March 12, the US administration issued a temporary license allowing countries to purchase Russian crude oil or petroleum products already at sea, but only until April 11. This decision was made against the backdrop of rising oil prices above $100 per barrel due to attacks on vessels in the Persian Gulf and the closure of key oil terminals.
European Council President Antonio Costa expressed concern about the impact of this US decision on Europe’s security. Ukrainian diplomats stressed that such a step would not stabilize the market but would only allow Russia to continue the war and support the Iranian regime in destabilizing the Middle East.
The European Commission urged the US to strictly adhere to the restrictions on Russian oil. Meanwhile, due to the escalation of the conflict in the Middle East, the Strait of Hormuz, through which one-fifth of the world’s oil volume passes, is effectively closed to tanker transportation.