Ukrainian President Volodymyr Zelenskyy issued a stark warning Friday as global oil prices climbed following recent clashes between Israel and Iran, saying the increase will strengthen Russia’s ability to wage war in Ukraine. He argued that higher rates for crude oil exports will send more funds to Moscow and erode Ukraine’s position on the battlefield.
Speaking to reporters in Kyiv, Zelenskyy said that the price of Brent crude jumped by as much as seven percent over two days and reached seventy five dollars and eighteen cents per barrel on June 13. He pointed out that Russia still earns roughly thirty percent of its federal budget from oil sales. “When the oil price goes up, Moscow’s war machine gets more fuel and more funds,” he said. He added that his upcoming call with U.S. President Joe Biden will include the oil price surge as a key topic.
Zelenskyy’s comments came as Western allies have struggled to agree on a firm cap for Russian oil exports. The European Union is now debating its eighteenth sanctions package, which would lower the price ceiling from sixty dollars to forty five dollars per barrel. However, Ukraine’s leader called for a cap set at just thirty dollars. “Every partner knows that thirty dollars is the level that will really press Russia to seek peace,” he said, urging EU members to back this lower figure.
Research from the Centre for Research on Energy and Clean Air supports his view. Their data show that if a thirty dollar cap had been in place since December twenty twenty two, Russia’s oil export income would have fallen by forty percent. That drop would translate into tens of billions of dollars less for Moscow’s treasury over this period. The group states that a strict cap can curb revenues without halting global supply of energy.
Meanwhile, Zelenskyy raised worries about U.S. military aid diversion. He said that a shipment of twenty thousand interceptor missiles meant for Ukraine was sent instead to Israel to defend against Shahed drones. “When you face three hundred or four hundred drones a day, you need every interceptor,” he said. He warned that taking weapons away undermines Ukraine’s defenses and shifts the balance on the front lines.
The surge in oil costs follows air strikes exchanged by Israel and Iran in the context of their own conflict. While that clash may seem far from Eastern Europe, Zelenskyy noted that energy markets link distant crises. He urged allies to see how one flare up in the Middle East can ripple through budgets and battlefields all the way to Kyiv.
Analysts agree that higher oil and gas prices widen Moscow’s financial buffer. They say that every extra dollar per barrel means more revenue that Russia can spend on ammunition, salaries, and new military hardware. Against this backdrop, Ukraine’s leaders have called for stronger measures to limit Russia’s oil windfall, as part of a broader push for heavier sanctions on trade, banking, and shipping.
As discussions continue in Brussels and Washington, Zelenskyy made clear that time is of the essence. He stressed that every day without a firm price cap hands more support to Russia’s campaign. He asked allies to act quickly and firmly. “We cannot wait while Russia uses higher prices to fuel a war that brings death and destruction,” he said. With the EU vote looming and U.S. aid talks ongoing, Kyiv will press its case that capping oil at thirty dollars is key to turning the tide.
