Ukraine Allies Unite To Remove Russian Oil And Gas
Over 20 nations supporting Ukraine have committed to eliminating Russian oil and gas from global markets, one of the biggest escalations in global action so far to put pressure on Vladimir Putin to bring an end to the war. The commitment was made at a summit of the so-called “Coalition of the Willing” in London, hosted by UK Prime Minister Keir Starmer. “We’re cutting off funding for Russia’s war machine,” Starmer declared, stressing that coordinated energy sanctions were now the key to dismantling Moscow’s wartime economy.
Western Powers Intensify Sanctions On Russian Energy
The pledge came just days after the US and UK imposed new sanctions targeting Russia’s two biggest oil companies, Rosneft and Lukoil, while the European Union moved to phase out liquefied natural gas (LNG) imports from Russia by 2027. US President Donald Trump imposed the sanctions earlier this week following his frustration with Putin’s ongoing refusal to consider peace negotiations. Oil prices increased by more than 3% in response to the news, indicating concerns of a tightening global supply. EU Commission President Ursula von der Leyen welcomed the coordinated action as “a clear message that we will not fund Russia’s aggression.”
Zelensky Calls For Broader Sanctions And Military Aid
Ukrainian President Volodymyr Zelensky was present at the London summit and urged allies to do more, demanding total sanctions against every Russian energy producer and appealing for the delivery of long-range missiles to target Moscow’s military apparatus. He praised the sanctions as a “big step,” but emphasized that Russia’s energy income must be completely cut off to bring an end to the war. While Britain and France signaled willingness to consider deepened sanctions, Trump refused to supply Tomahawk missiles, indicating he hoped to “end the war through strength, not escalation.” Meanwhile, President Putin threatened “overwhelming consequences” if Western weapons were used to hit Russian soil.
News At Glance
- Over 20 Ukraine allies pledge to remove Russian oil and gas from global trade.
- The US, UK, and EU impose sweeping sanctions on Rosneft, Lukoil, and LNG exports.
- Ukraine’s Zelensky urges broader sanctions and Western missile support.
- Putin warns of “severe response” if Russian territory is attacked.
FAQ
- What did Ukraine’s allies pledge?
They pledge to take Russian oil and gas off global markets in order to cut Moscow’s critical war revenues.
- Which countries are leading the initiative?
The US, UK, and EU nations are leading the sanctions, with more than 20 governments signing the pledge.
- How might this affect global markets?
Analysts predict short-term oil price spikes, though Western countries are increasing alternative energy supplies to stabilize the effect.
- How has Russia reacted?
Putin called the sanctions “political theater” but threatened “serious retaliation” if Western weapons hit Russian soil.
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