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Zelensky Says Sanctions to Cost Russia $50 Billion a Year as Kyiv Presses EU for 20th Package

Ukraine is leveraging new intelligence on oil losses to press for tighter, broader EU sanctions.

Overview

  • After a briefing from intelligence chief Oleh Ivashchenko, Zelensky said recent oil-focused measures could strip Russia of at least $50 billion in annual revenue if sustained.
  • Kyiv says it is working with the EU on a 20th sanctions package and with the U.S. on enforcement, including steps against Russia’s tanker fleet and closing third‑country loopholes.
  • Zelensky said he sees signs of reduced Russian oil imports by India and China and urged partners to maintain pressure to curtail Moscow’s war financing.
  • The U.S. Treasury recently sanctioned Rosneft and Lukoil, and the EU approved its 19th package on Oct. 23, actions Ukraine says are informing market behavior and further plans.
  • Ukrainian intelligence reported Urals crude prices at seasonal lows and warned of broader Russian economic strains, including budget risks and a potential systemic banking crisis.