Ukraine urges EU to sanction Russian oil; 'Difficult times require difficult decisions'

Demanding extension of sanctions and embargoes on Russia for wreaking havoc in Ukraine's cities, Ukrainian foreign minister Dmytro Kuleba, on Wednesday, urged European Union member nations to impose oil/gas embargoes on Moscow to decapitate the Russian economy. He further asserted that such a measure will consequently result in 'de-SWIFTing' (removal from the SWIFT banking system) of Russian banks and will ward off President Putin's invading forces.

Additionally, Dmytro Kuleba also lauded the European Union for slapping the fifth package of bans on Moscow. The European Union has stood in support of Kyiv since Day 1 of the Russian invasion and is processing its application of joining the bloc.

'Difficult times require difficult decisions': Ukrainian FM

While appreciating the latest set of sanctions placed on Russian coal and other items, the Ukrainian Foreign Minister demanded European countries to ditch the import of Russian gas and oil. Notably, the Russian economy majorly thrives on the oil and gas export and Europe is the largest buyer of Russian oil. As per official data, last year, the revenue generated from gas and oil export accounted for 36% of Russia's economy.

“I appreciate the strengthening of the 5th EU sanctions package: bans on Russian coal, vessels accessing EU ports, and road transport operators. But it will take a gas/oil embargo and de-SWIFTing of all Russian banks to stop Putin. Difficult times require difficult decisions,” Kuleba wrote on Twitter. 

Despite placing several sanctions on Moscow, European nations have largely abstained from banning the export of Russian gas and oil as it will lead to a major economic hit in Europe and further push up already high fuel prices. Europe imports about 90% of its oil and gas, out of which a majority comes from Russia.  

In the latest clampdown on Russia’s military aggression, the United States on Tuesday, April 5, slapped sanctions on the world’s most prominent Russian marketplace on the dark web, cryptocurrency exchange Hydra, which is known to be mainly operating from Moscow and St. Petersburg.

Policy of 'not provoking Putin' failed: Ukrainian FM

In another tweet, Kuleba said that the only way to mitigate further destruction and avert war from aggravating is by providing full support to Kyiv and imposing stringent sanctions on Russia. He further prompted the world to provide Ukraine monetary support and weapons to battle invading Russian troops. Urging the global leaders to discard their fears of ‘provoking Putin,’ he asked them to act before its too late.

“The only way to avert the Russian war expanding beyond Ukraine is to provide us with the fullest support. Maximum sanctions. All the weapons. The policy of ‘not provoking Putin’ has failed badly in past years. Help us contain this evil now or risk Putin testing Article 5 later,” Kuleba wrote in a separate tweet. 

Notably, he also mentioned NATO’s Article-5, which directs all NATO allies to join forces to unitedly fight security threats. According to NATO, Article 5 remains a unique and enduring principle that binds its member nations together, committing them to protect each other and setting a spirit of solidarity within the alliance.

(Image: AP)