As Ukraine calls for the EU to pass its 20th Sanctions package on Russia, and tensions in the Strait of Hormuz continue to disrupt global energy markets, oil prices are trading near $100 per barrel, exposing a dangerous global dependence on imported Russian fossil fuels and delivering massive windfall profits to the Kremlin. Amid this situation, the Ukrainian campaign group Razom We Stand is calling for the elimination of fossil fuel subsidies across Europe, a rapid transition to cheaper renewable energy, and the immediate passage of stronger sanctions, which could cost Russia $50 billion in war funding next year.
According to the Financial Times, the escalating Iran-linked crisis has tightened supplies of fossil fuel. This will continue to push prices upward in the coming months, creating conditions for Russia to increase its windfall revenues, which are used to attack Ukraine. Despite partial EU sanctions, the EU still imports Russian LNG gas, provides maritime services, and has not plugged loopholes in its sanctions.
At the same time, the human cost of this continued EU funding for the war on Ukraine is devastating. The UN Human Rights Monitoring Mission in Ukraine reported that 211 civilians were killed and 1,206 injured in March 2026, the highest monthly toll since mid-2025, while UNICEF confirmed 89 child casualties, a sharp increase month-on-month. European institutions have also acknowledged that Russia is doubling down on war crimes, deliberately targeting civilian infrastructure. At the same time, the International Criminal Court has issued arrest warrants related to crimes against civilians and children, as noted in the European Commission statement.
Dr Svitlana Romanko, Founder and Executive Director of Razom We Stand, said:
“Every euro Europe still pays for Russian fossil fuels is another euro funding missiles, drones and bombs that kill Ukrainian civilians and children. This is blood money. The EU must pass its 20th Sanctions package on Russia, implement REPowerEU, and stop importing Russian LNG. Europe cannot claim to stand with Ukraine while continuing to finance the very crimes it condemns. The solution is clear: Europe must replace expensive fossil fuel imports — especially from Russia — with cheaper, homegrown renewable energy that strengthens security instead of funding war.”
The financial scale of this problem is rapidly growing. Analysis by the Centre for Research on Energy and Clean Air (CREA) shows that Russia’s fossil fuel revenues surged to EUR 713 million per day in March 2026, with crude oil revenues alone rising 94% month-on-month to EUR 431 million per day. Reuters reporting based on these trends indicates Russia’s key oil tax is expected to double to around $9 billion in April due to rising prices linked to the Iran crisis, while Urgewald estimates Russia earned €6 billion in fossil fuel revenues in just the first 12 days following the escalation.
Despite EU sanctions, loopholes allow Russian oil continues to enter European markets through third countries, while the EU remains a major buyer of Russian LNG—directly undermining sanctions and sustaining the Kremlin’s war machine.
As the Hungarian blockade of EU policy seems to have been removed, Razom We Stand calls on the EU to urgently adopt a strengthened 20th sanctions package and fully implement REPowerEU without delay, including a full ban on maritime transport of Russian oil, systemic shutdown of the shadow fleet, stricter price caps, bans on insurance and brokerage services, and full traceability to prevent circumvention through third countries. The EU must act independently and with urgency rather than waiting for broader international consensus.
The economic case is clear. The International Renewable Energy Agency (IRENA) confirms that 91% of new renewable power capacity is cheaper than fossil fuels, with solar 41% cheaper and onshore wind 53% cheaper. The European Commission has also stressed that a clean energy transition is essential for lowering costs and strengthening Europe’s resilience.Europe’s ongoing spending on Russian fossil fuels not only defies economic logic but also directly funds war crimes and prolongs Ukrainian suffering. Ending this dependence is the fastest, most cost-effective way to weaken the Kremlin, save lives, and secure energy independence and peace for Europe.
