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Finance

Zelenskiy: Sanctions on Russian oil significantly affect Moscow's war financing

Published by Global Banking and Finance Review

Posted on January 11, 2025

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(Reuters) - Ukrainian President Volodymyr Zelenskiy on Friday welcomed new U.S. sanctions against Russia's oil sector and its so-called shadow tanker fleet.

"These measures deliver a significant blow to the financial foundation of Russia's war machine by disrupting its entire supply chain," he said on X.

Zelenskiy, writing later on X, expressed thanks for British sanctions imposed on Russian oil companies, saying that London "delivers yet another significant disruption to (Russian President Vladimir) Putin's ability to finance aggression".

"We value the UK’s continued efforts to obstruct Russia’s shadow fleet operations, which remain a critical part of its oil trade," he wrote.

(Reporting by Yuliia Dysa and Ron Popeski; Editing by Kevin Liffey and Alistair Bell)