Zelenskyy: easing sanctions could bring Russia about US$10bn for war

Ukrainian President Volodymyr Zelenskyy has said the partial easing of US sanctions on Russian oil currently at sea could enable Russia to earn up to US$10 billion in additional funds to continue the war.

"It is important to continue increasing pressure on Russia for this war in order to achieve real security and lasting peace. We must overcome the blocking of the 20th sanctions package against Russia… especially against the background of America's decision to partially ease sanctions on Russian oil that is currently on tankers at sea.

This single easing by America alone could give Russia around US$10 billion for the war. This certainly does not help peace," Zelenskyy said during a press conference with French President Emmanuel Macron.

Zelenskyy later added that although the logic of the United States is to stabilise the situation on global markets, Russia will spend these funds on weapons, primarily drones used to strike Ukraine.

"As we already see from intelligence reports, these same drones are also being used against Iran's neighbours, as well as against Europeans and Americans who are present at various bases there. Therefore, lifting sanctions so that more drones later fly at you is, in my view, not the right decision," he added.

On 12 March, the US lifted sanctions restrictions on the purchase of Russian oil and petroleum products currently at sea for 30 days.

The licence issued by the US Treasury permits the delivery and sale of Russian oil and petroleum products that had been loaded onto vessels as of 12 March. The licence will remain in effect until midnight on 11 April Washington time.

Kremlin spokesman Dmitry Peskov said that the interests of Moscow and Washington have "situationally coincided" with regard to the lifting of US sanctions on Russian oil currently at sea.