Press Release
For Immediate Release
Kyiv, Ukraine,
Ukrainian climate and clean energy campaign group Razom We Stand, along with the support of over 30 organisations and two coalitions of 250+ organisations, has issued an open letter to President Biden, Treasury Secretary Janet Yellen, and Special Presidential Envoy for Climate John Podesta, calling for decisive and immediate US action to close sanctions loopholes on Russian fossil fuels. This final push before the January transition of power is critical to cutting off Russia’s war funding, mitigating climate impacts, and securing a peaceful, sustainable future.
The letter highlights the devastating impact of Russia’s war, which has caused over 1 million casualties and $500 billion in damages to Ukraine. Meanwhile, Russia has earned over $800 billion from fossil fuel exports since February 2022, with much of that revenue funding its military aggression.
Svitlana Romanko, Founder and Executive Director of Razom We Stand, stated: “President Biden has demonstrated strong leadership in supporting Ukraine, but now is the time to take that legacy further. Fully sanctioning Russian oil and gas exports to dry up their war chest is not only a step toward ending this war but also a powerful signal of climate and moral leadership. Cutting these revenue streams would defund Putin’s war machine, protect millions of lives, and speed up the global transition to clean energy.”
The letter outlines urgent actions the U.S. must take to address critical gaps in the current sanctions regime:
- Close the remaining loopholes in the sanctions regime: ban imports of refined oil products produced from Russian crude in third countries and ban the provision of any services, technology, or software to Russian oil and gas companies.
- End U.S. Business Ties with Russian Energy: Companies like SLB (Schlumberger) have expanded operations in Russia, supplying $17.5 million in materials as recently as December 2023. This continued engagement undermines sanctions and enables Russia’s war chest to grow.
- Expand targeted sanctions against shadow fleet vessels: All ships that transport Russian oil without proper maritime P&I insurance and facilitate trade at prices above the price cap should be designated, as should their ship managers, owners, and senior crew members.
- Expand Secondary Sanctions: Target buyers of Russian oil, as well as shipping companies selling tankers or providing logistical support to Russia’s shadow fleet.
- Keep pressure on to derail Russia’s strategic projects in the Arctic: block international finance, construction contracts, and trade operations for Novatek’s and Rosneft’s “carbon bomb” mega projects in the Arctic, which could emit billions of tons of CO2; block expansion of navigation through the Northern Sea Route with targeted and secondary sanctions.
- Extend Nord Stream 2 sanction: a large number of Ukrainian civil society organizations made this call last week.
Razom We Stand’s recent report, “Bridging the Gap Between Peace and Climate Action: An Assessment of the Potential Climate Impact of Sanctions on Russian Oil & Gas Exports”, underscores the dual climate and security threats posed by Russia’s energy sector, responsible for 78% of the country’s greenhouse gas emissions and nearly half of its federal revenue. Full sanctions against Russian fossil fuels could lead to a 25% reduction in Russia’s upstream emissions by 2030, potentially cutting 300 million tons of CO₂ annually if renewables replace Russian energy in Europe and Asia.
As the world prepares for a new U.S. government, Razom We Stand stresses that the U.S. can still lead the charge against fossil-fuel-driven conflicts and climate chaos. The Biden administration’s action in the coming weeks could be pivotal in turning the tide for Ukraine, the planet, and a future free from fossil fuel dependency.
ENDS
You can view the full letter here.
Razom We Stand is an international campaign group based in Ukraine. We are dedicated to ending Russian fossil fuel-funded conflicts and climate chaos while driving a clean energy revolution in Ukraine and around the globe.
Svitlana Romanko has appeared in top-tier international press, including Bloomberg, Washington Post, CNN, NBC, The Hill, Politico, Financial Times, The Guardian, Der Spiegel, Le Monde and more.
For media enquiries, please contact:
Paraic Walker
International Communications Specialist
Razom We Stand
[email protected]
