Ukrainian President Volodymyr Zelensky has criticized the easing of sanctions on Russian energy, writing in X that "every dollar paid for Russian oil is money for war."
His statement on April 19 comes after the United States extended an exemption for Russian oil earlier in the week, with data showing Moscow almost doubled its oil revenues in March amid rising energy prices as Iran continues to block shipping in the key Strait of Hormuz.
Zelensky claimed that more than 110 tankers from Russia's shadow fleet are currently at sea, transporting over 12 million tons of Russian oil worth $10 billion.
He added that "the continued easing of sanctions against Russia does not reflect the real situation in war or diplomacy and feeds the illusion of the Russian leadership that they can continue the war."
Zelensky said Russia has launched more than 2.360 attack drones, 1.320 guided bombs and almost 60 missiles over the past week.
The latest attacks included an overnight strike in Chernihiv that killed a 16-year-old boy and wounded four others, local officials said on April 19.
“It is important that Russian tankers are stopped, not allowed to deliver oil to ports,” Zelensky said in his post on X. “The aggressor’s oil exports must be reduced, and long-range sanctions on Ukraine must continue to work towards this goal.”
While the West has imposed a global cap on trade in Russian oil products transported by sea, Russia has managed to circumvent this with a so-called shadow fleet of ships — often with unclear ownership and insurance structures — which continues to trade these products.
Data show that Russian export revenues, both crude oil and refined products, reached $19 billion in March — up from $9.7 billion in February.
On April 17, the Office of Foreign Assets Control (OFAC) at the U.S. Treasury Department authorized a new sanctions exemption for Russian oil that lasts until May 16, replacing a previous license that expired on April 11.
Although the latest exemption only applies to oil that has already been loaded onto ships, the new extension came as a surprise, as US Treasury Secretary Scott Bessent had earlier dismissed the idea that an extension was imminent.
Even the EU has failed to impose new sanctions on Russian oil.
New measures were proposed in January, which would include a ban on maritime services related to Russian oil products. This would prevent EU-based companies from providing services to any ship transporting these products from Russian ports.
There were also efforts to accelerate the complete elimination of Russian oil imports before the current deadline of December 2027.
However, unanimity has not been reached among EU member states on the issue, partly due to rising energy prices, as Iran has effectively closed the Strait of Hormuz for more than a month — pushing oil prices well above $100 per barrel./REL
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