Ukrainian Advocacy Group Urges Stronger Sanctions on Russian LNG During UK Prime Minister Keir Starmer’s U.S. Visit

Kyiv, Ukraine/ Washington, D.C. 

As UK Prime Minister Keir Starmer meets with President Joe Biden today to discuss the war in Ukraine, Razom We Stand calls for both leaders to take bold, coordinated action between the US and the UK  to entirely phase out Russian oil and LNG gas from global markets and tighten international sanctions against Russian energy giants.

While Razom We Stand commends the recent UK and U.S. sanctions packages, we urge for additional measures to intensify economic pressure on the Kremlin further and dismantle its dirty energy empire that funds the bombs dropped on Ukraine daily. 

“Ending global reliance on Russian oil and gas is the only way to achieve true energy security and to break free from the grip of Russian aggression,” said Svitlana Romanko, Founder and Executive Director at Razom We Stand. “While recent U.S. and U.K. sanctions mark progress, they must go further. Both nations have the power to strike at the heart of Russia’s energy empire by lowering the oil price cap, targeting additional LNG carriers and oil fleets in the UK and the EU waters, particularly the Arc7 vessels linked to the Yamal LNG project, and any ships tied to Novatek or Gazprom. Targeting Russia’s energy empire is the most decisive step to halt Putin’s war machine and prevent further peace, energy security and democracy implications for Ukraine and  the world.”

The latest major U.S. sanctions package has significantly affected Russia’s efforts to expand its LNG exports, particularly by targeting seven LNG carriers that Novatek tried to leverage to increase shipments from the Arctic. On September 5, two more LNG carriers were added to the sanctions list, and all these vessels are part of a broader shadow fleet that Russia employs for its economic, military, and hybrid aggression activities

Recent reports show that Russia’s federal budget revenues from the oil and gas industry surged to 4.2 trillion rubles ($45.7 billion) in the January-April 2024 period, marking an 82.2% increase compared to the same period last year.

Europe increased its imports of Russian LNG by 11% year on year in H1 2024. The European terminals that imported the most Russian LNG in H1 2024 were Zeebrugge (Belgium), Montoir-de-Bretagne (France), Bilbao (Spain), Dunkerque (France) and Mugardos (Spain).

Ukraine’s sanctions authorities are actively monitoring the activities of Russia’s shadow fleets used for oil and gas exports. The coordinated effort demonstrates the growing international resolve to cut off vital revenue streams that fund the Kremlin’s war budget.

UK and U.S. sanctions on the Russian oil fleet and LNG carriers are a vital component of a broader strategy aimed at severing Russia’s capacity to fund its war through energy exports. Razom We Stand calls for additional actions to break down Russia’s energy dominance and secure lasting stability for Ukraine and the global community.

ENDS

Razom We Stand is an international Ukrainian organization. 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 was previously quoted on the White House’s official website in response to the Biden administration’s decision to limit global LNG industry expansion and has appeared in top-tier international press, including Washington Post, CNN, NBC, AP, Politico, Bloomberg, The Hill, Financial Times, The Guardian, Der Spiegel, and Le Monde; a detailed list is here

Press Contact:
Paraic Walker, [email protected]
Communications Specialist, Razom We Stand

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