Ukraine's President Volodymyr Zelensky has condemned a U.S. 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 already loaded on vessels at sea until 16 May.
The U.S. argues that the waiver is meant to ease the energy supply crunch sparked by the U.S.-Israel war with Iran. However, in his remarks on Sunday, Zelensky stated, every dollar paid for Russian oil is money for the war in Ukraine. Widespread sanctions have been in place against Russia since President Vladimir Putin launched his full-scale invasion of its neighbour in February 2022.
The devastating U.S. and Israel attacks against Iran have prompted it to retaliate not only against Israel but also against energy facilities across the region. Furthermore, Iran has virtually shut the Strait of Hormuz, a critical passage for about 20% of the world's oil and liquefied natural gas (LNG), escalating fears of a global recession if it does not reopen soon.
Zelensky expressed concerns that the U.S. move would benefit Russia, which he claimed has over 110 tankers from its shadow fleet carrying over 12 million tons of oil. The sale, he added, could bring $10 billion to Moscow's coffers, funding further strikes against Ukraine.
Despite ongoing attacks, there remains a stalemate in the war, with Russia controlling approximately 20% of Ukrainian territory. Efforts by the U.S. to resolve the conflict are currently on hold due to the circumstances of the war in Iran.
