How Much Will Ukraine Lose as the US Lifts Sanctions on Russia?.

The State of Sanctions Against Russia

According to UATV: The US administration, led by Treasury Secretary Scott Bessent, is attempting to justify the removal of sanctions on Russia despite pushback from European leaders. The lifting of these measures could provide Russia with roughly $2 billion—an amount equivalent to just one day of the country's expenditures. Ukrainian President Volodymyr Zelenskyy has reported that the easing of sanctions has already generated $10 billion for Russia through oil sales.

On March 23, 2023, Bessent stated that the United States had temporarily lifted the ban on purchasing Russian oil that was already loaded onto tankers. However, this move has sparked serious concern among European leaders, who openly disagree with Washington's decisions.

Oleh Pendzyn: 'Such justifications come in response to fairly serious complaints from, among others, European leaders.'

He also emphasized that 'we are talking about oil that is currently on the ocean. That is, tanker oil that was redirected to India and China.'

Criticism from European Leaders

European leaders stress that 'there is no reason to lift the restrictions. Any easing is only temporary.' Meanwhile, Donald Trump noted that Washington is trying to curb a sharp spike in energy prices amid military actions in Iran.

Oleh Pendzyn: 'Any reduction in pressure on the Russian Federation instantly fuels intensified military operations and aggression against Ukraine.'

Furthermore, the European Union's 20th sanctions package has yet to be adopted, and Hungary's elections are scheduled for April 12. This situation raises additional questions about the future of sanctions policy toward Russia and its impact on the global economy.

The sanctions landscape concerning Russia remains complex and contentious. Lifting the ban on purchasing Russian oil could have significant economic repercussions, particularly for energy prices and the funding of military campaigns. At the same time, criticism from European leaders points to potential rifts in international policy toward Russia, which could complicate coordinated action on sanctions. Adding to the uncertainty, the unresolved status of future EU sanctions underscores the need for unified global efforts to counter Russian aggression.