The President of Ukraine, Volodymyr Zelensky, has emphasized the necessity of maintaining sanctions against Russia, despite recent developments in the Middle East that have influenced global oil prices.
Zelensky noted that the markets reacted to a ceasefire agreement in the region, leading to a decline in oil prices. He stated, “This is a correct signal regarding Russia, indicating that alongside our long-range sanctions, other measures will also be effective.”
The president asserted that there are no valid reasons to ease the sanctions pressure, especially since discussions about reducing sanctions were previously framed as a way to alleviate issues in the global oil market.
He highlighted the importance of addressing the situation in the Strait of Hormuz, calling it a global necessity. Zelensky remarked, “Russian oil revenues must continue to decline. Oil fuels the Russian war and emboldens Russia. This is why they have heavily invested in supporting the Iranian regime, attempting to prolong the conflict.”
Zelensky reiterated that “war is unwanted by anyone” and stressed the need for world powers to draw appropriate security conclusions from recent events.
It is noteworthy that crude oil prices fell sharply below $100 per barrel following an announcement by former President Trump regarding a two-week ceasefire with Iran. This decline marked the largest single-day drop in oil prices since the Gulf War in 1991.
Ukrainian President Volodymyr Zelensky has called for the continuation of sanctions against Russia, linking them to recent fluctuations in global oil prices due to a ceasefire in the Middle East. He underscored the importance of reducing Russian oil revenues to undermine its military efforts.