Zelensky criticizes easing of sanctions on Russian energy: Every dollar paid for Russian oil is money for war

Ukrainian President Volodymyr Zelensky criticized the easing of sanctions on Russian energy, commenting on the X platform that "every dollar paid for Russian oil is money for war."

His April 19 statement comes after the United States (US) extended a waiver for Russian oil earlier this week, with data showing Moscow almost doubled its oil revenues in March amid rising energy prices as Iran continues to disrupt shipping through the crucial Strait of Hormuz.

Zelensky says that more than 110 tankers from Russia's "shadow fleet" are currently at sea, carrying more than 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 the war or in diplomacy and fuels the illusion of the Russian leadership that they can continue the war."

Zelensky said that Russia had launched more than 2.360 drones, 1.320 guided bombs and nearly 60 missiles over the past week.

The latest attacks included a nighttime strike on Chernihiv that killed a 16-year-old boy and wounded four others, local officials said on April 19th.

"It is important that Russian tankers are stopped, that they are not allowed to deliver oil to ports," Zelensky said in a post on Iks.

"The aggressor's oil exports must be reduced, and long-term sanctions on Ukraine should continue to work towards that goal."

While the West has set a global limit on trade in Russian oil products transported by sea, Russia has managed to circumvent this through a so-called shadow fleet, often with unclear ownership and insurance structures, which continues to trade in these products.

Data shows that revenues from Russian crude and refined oil exports reached $19 billion in March, up from $9,7 billion in February.

The US Treasury Department's Office of Foreign Assets Control (OFAC) approved a new sanctions waiver for Russian oil on March 17th, lasting until May 16th, replacing a previous license that expired on April 11th.

Although the latest exemption only applies to oil already loaded on ships, the new extension came as a surprise because US Treasury Secretary Scott Besant had previously dismissed the idea that an extension would occur.

The European Union (EU) also failed to impose additional sanctions on Russian oil.

New measures were proposed in January that would include a ban on maritime services related to Russian oil products. This would prohibit EU-based companies from providing services to any vessel carrying these products from Russian ports. There has also been pressure to completely eliminate imports of Russian oil before the current target of December 2027.

However, unanimity was not achieved among EU member states, partly due to rising energy prices as Iran effectively closed the Strait of Hormuz for more than a month, which pushed oil prices well above $100 per barrel.