As President Trump is expected to announce key support for Ukraine’s defense against Russian attacks, Ukrainian energy and climate campaign group Razom We Stand is calling for urgent action to shut down the Kremlin’s fossil fuel exports and dismantle the still-functioning international trade environment that props up Russia’s fossil-driven war economy. Since the beginning of the war, Russia earned well over $1 trillion (906 billion euros) in revenue from fossil fuel exports, financing the brutality, murder and war crimes suffered upon Ukraine for over three years.
Founder and Executive Director of Razom We Stand, Dr Svitlana Romanko, has a clear message to US and European leaders: “For those of us living through horrific daily attacks, we are thankful for all the support given to Ukraine, yet the world must also act to dry up Putin’s war chest. As Russia’s brutal assault on Ukraine continues, it is time to close the financial and legal backdoors that let Russian fossil fuel exports flow with few restrictions to global markets. Without massive oil and LNG gas revenues, the Kremlin would not be able to finance new massacres and aggression against democratic states.
If US, NATO and European leaders are serious about undermining Putin’s war machine, they must push for a full embargo on Russian LNG gas exports and stop its oil export trade. This can be done through “bone-breaking sanctions” as proposed by Sen. Graham, which must be passed now with no further delays. The US and Europe should see that the Financial Action Task Force (FATF) blacklists Russia, and work to eliminate the dirty and polluting Russian shadow fleet. Without tightened trade sanctions, anti-money laundering financial practices and the rule of law at sea, there can be no real security for Ukraine, Europe or the world.”
Razom We Stand urges President Trump and global decision-makers to take bold, coordinated steps, including:
- Totally embargo all Russian fossil fuels, and at minimum lower the oil price cap to $20–25 per barrel, in line with market conditions and Ukraine’s national position
- Blacklist Russia at the Financial Action Task Force (FATF) to shut off illicit financial flows and tighten compliance
- Dismantle the Russian shadow fleet by enforcing maritime transparency, beneficial ownership rules, and stricter oversight of insurers and flag states
- Impose severe secondary sanctions on key Russian oil importers, including India and China
- Align sanctions enforcement across the G7, US, EU, and UK to close loopholes that allow Russian fossil fuel revenues to flow.
–ENDS–Razom We Stand is a Ukrainian campaign group active internationally. It calls for a total and permanent embargo on Russian fossil fuels and an immediate end to all investment in Russian oil and gas companies by phasing out fossil fuels globally. Svitlana Romanko has appeared in the top-tier international press, including Bloomberg, Washington Post, CNN, NBC, Newsweek, Politico, The Hill, Rolling Stone, Financial Times, The Guardian, Der Spiegel, Le Monde and more.
