Russia to lose at least $37B in oil and gas revenues this year – Zelensky

Russia is expected to lose at least $37 billion in budget oil and gas revenues this year.

According to Ukrinform, Ukrainian President Volodymyr Zelensky reported this on Facebook following a report by Chief of Ukraine's Foreign Intelligence Service Oleh Ivashchenko on the results of joint pressure on Russia with international partners.

"There are important results from our joint efforts with partners to put pressure on Russia. For the first time since the beginning of the war, a noticeable decline has been recorded this year in Russia's oil production and refining. The oil and gas revenues of the Russian budget are decreasing, and by the end of this year, Russia will have lost at least 37 billion dollars in budget oil and gas income. In addition, Russian oil companies and the entire energy sector are losing tens of billions more. All this curbs Russia's war machine," Zelensky said.

He noted that both conventional sanctions against Russia and Ukraine's "long-range sanctions" are working effectively.

"Further directions for our sanctions pressure have also been identified. I thank all our partners who are also delivering entirely justified legal blows against the vessels of Russia’s oil fleet – the Russians are now using fewer tankers," Zelensky added.

He also said the meeting addressed efforts to bring home Ukrainian children abducted by Russia, as well as other operations abroad.

Photos: Office of the President of Ukraine