There Are Initial Details on the Impact of U.S. and European Sanctions Against Russian Oil Companies, and It Is Quite Tangible – Address by the President

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Fellow Ukrainians!

Today, our energy workers have been working throughout the day - from Zaporizhzhia and the Mykolaiv region to the Ivano-Frankivsk and Vinnytsia regions - following the Russian strike. Unfortunately, there were hits, and the target was the energy infrastructure. We are doing everything possible to restore it and are adding reserves. I want to thank every repair crew, all utility services involved, energy companies, and the State Emergency Service of Ukraine - this is truly a nationwide effort. Everywhere the Russians have destroyed, Ukrainians are rebuilding. It is important that every community devote maximum attention and resources to this. The strike was complex - a combined, deliberately calculated one, designed to make it difficult to counter. There were missiles as well, including ballistic and air-launched ballistic types. In total, 52 missiles and more than six hundred strike drones were launched, around four hundred of them "shaheds." Most of the drones were neutralized, and two-thirds of the missiles were also shot down. Ukraine's air defense is saving a significant part of our infrastructure, and this remains the top priority - air defense systems and missiles for them. We are working on this every day. And also our long-range capabilities - our entirely justified responses to what Russia is doing against Ukraine and our people. A few hours ago there was a strike on the Slovyansk Thermal Power Plant - a strike with Russian bombs. Sadly, two people were killed. My condolences. There are also wounded. This is outright terror. Normal people don't wage war like this, and the world must respond appropriately to such Russian warfare. It is very important that we have specific agreements with Norway precisely in the field of energy - support for our gas purchases. We also have agreements with Germany, Italy, and the Netherlands, and we are working with them on equipment for electricity generation. We are counting on the support of the European Commission as well. Today, the Minister of Energy of Ukraine is having a meeting with representatives of the Group of Seven - the G7 energy ministers - countries that certainly can and will support Ukraine. We are ensuring such cooperation with them. The Head of Ukraine's Foreign Intelligence Service presented a report today. There are initial details on the impact of U.S. and European sanctions against Russian oil companies, and it is quite tangible. Oil exports are the foundation of Russia's arrogance, and if sanctions are maintained and strengthened, Russia will suffer significant losses. They could amount to at least 50 billion dollars next year, which is a strong argument for Russia to develop a motive to end this war. We will continue creating more such arguments. Ukraine is already in contact with the European Union regarding the twentieth sanctions package - we are submitting our proposals. We are also engaging with the American side. We count on key states to maintain this course of action. We already see that there will be a reduction in imports of Russian oil by India and China, and it is important to ensure that there are no sanctions loopholes through third countries. A reduction in Russian oil means a reduction in Russia's war, and there must be no exceptions to this - for anyone, including Hungary. The Russians are already considering how to sell off their enterprises, particularly in Europe, as these will no longer be able to operate. Of course, there were many military reports today - primarily concerning the Pokrovsk sector, the Donetsk region in general, and the areas bordering the Dnipro region. We are destroying the occupier with all our might. I want to thank every soldier, every sergeant, and every officer who is fighting for Ukraine and securing the results Ukraine needs despite everything. We are defending our positions; we are defending our state.

Glory to Ukraine!