File photo: Ukrainian President Zelensky (Picture Credit: AP)
Ukrainian President Volodymyr Zelensky said on Friday that a US decision to temporarily ease sanctions on Russian oil sales could provide Moscow with about $10 billion in additional revenue, warning that the move would directly undermine efforts to end the war in Ukraine.“This one concession from the United States alone could cost Russia about $10 billion for the war. It certainly does not help peace,” Zelensky said at a press conference in Paris with French President Emmanuel Macron, according to news agency AFP.Zelensky’s comments came after Washington announced a 30-day license allowing countries to buy Russian oil and petroleum products already stranded at sea, a move the US says is aimed at reducing global energy prices that have soared following the war involving Iran.
Zelensky, Macron oppose US move
Supporting Kiev’s concerns, Macron said Russia was “wrong” if it believed the Middle East conflict would reduce international pressure on Moscow.“Today Russia can believe that a war in Iran will bring it relief. This is wrong,” Macron said during a joint press conference.He said G7 leaders had made clear earlier this week that rising oil prices “should under no circumstances prompt us to reconsider our sanctions policy toward Russia”.The French leader’s comments reflect growing unease in Europe that temporary sanctions relief could embolden Russian President Vladimir Putin at a time when oil prices are already high due to the Middle East crisis.
US says waiver is temporary and aimed to calm markets
The US Treasury issued a 30-day license valid through April 11 for the delivery and sale of Russian crude oil and petroleum products that had already been loaded onto ships by March 12.US Treasury Secretary Scott Besant said the short-term move was intended to “stabilize global energy markets” and “expand the global reach of existing supply” after oil prices rose above $100 a barrel in the wake of the war on Iran.According to Reuters, Washington said the move would not bring significant financial benefits to the Russian government. The measure follows an earlier US waiver issued specifically for India on March 5 to allow purchase of Russian oil already stranded at sea.The easing of sanctions comes as the US and the International Energy Agency also move to release large emergency oil reserves to control rising prices.
Paris talks focus on pressure on Russia
Zelensky’s 12th visit to France since Russia launched a full-scale invasion in 2022 was aimed at increasing pressure on Russia, particularly by targeting Moscow’s so-called “shadow fleet” of tankers used to transport oil in violation of sanctions.Talks in Paris were also overshadowed by concerns that the Middle East war has derailed US-brokered efforts to revive peace talks between Kiev and Moscow.German Chancellor Friedrich Merz also criticized the US move on Friday, saying “it is wrong to ease restrictions now, whatever the reason,” according to AFP.Meanwhile, the Kremlin said the Paris meeting would hinder the peace process and argued that trying to pressure Russia was “absurd”.
Widespread war and fresh battlefield tensions
The debate over sanctions comes as the war in Ukraine continues to escalate. On Friday, a Russian attack in eastern Ukraine killed three people on a bus near Kupyansk, where Russian forces are trying to gain ground.Zelensky’s visit also came amid new political confrontation in Europe, with Hungary blocking a crucial 90 billion euro EU loan package for Ukraine and also launching a new round of sanctions on Russia.The dispute is linked to the partially damaged Druzhba pipeline, which supplies Russian oil to Hungary and Slovakia and which Kiev says was hit by Russian attacks earlier this year.The temporary US oil waiver, announced against a backdrop of rising global energy prices and disruptions in the Strait of Hormuz, has opened a new rift between Washington and its European allies, even as Kiev warns it risks igniting the same war the West says it wants to end.