In 2025, the sanctions coalition has already imposed restrictions on more than 500 entities in Russia's energy sector. As Oleg Luhovskyi, First Deputy Head of the Foreign Intelligence Service of Ukraine, reported at the Kyiv Sanctions Summit, this includes oil tankers, traders, and financial institutions, UNN reports.
Details
During his speech, Luhovskyi emphasized that the energy sector remains a key source of financing for the Russian war machine.
According to him, this year the sanctions coalition imposed restrictions on more than 500 entities in Russia's energy sector. These include oil tankers, traders, financial institutions, and a significant number of organizations that are part of the ecosystem of Russia's shadow fleet.
Today, the price of Russian oil has dropped to a record low of $40 per barrel in seaports. In addition, the discount on Urals crude has almost doubled – from $12 to $20 per barrel, and the cost of tanker freight has increased by 15%. Since November, we have observed a decrease in Russia's oil exports by sea.
"Sanctions pressure has led to a decrease in oil production in Russia to 30 million tons this year. This trend will intensify," emphasized Oleh Luhovskyi, adding that in 2025, Russia saw a 20% decrease in drilling new wells for oil production.
As a result, international sanctions have led to a significant deficit in the Russian federal budget. According to the SZR (Foreign Intelligence Service) estimates, this year Russia will lose $30 billion in oil and gas revenues and may lose about $50 billion next year.
Addendum
The event was attended by Prime Minister of Ukraine Yulia Svyrydenko, EU Special Representative for Sanctions David O'Sullivan, Advisor – Authorized Representative of the President on Sanctions Policy Vladyslav Vlasiuk, representatives of Ukraine, Belgium, Great Britain, Denmark, Estonia, Ireland, Iceland, Italy, Canada, Cyprus, Latvia, Lithuania, Netherlands, Germany, Norway, Poland, Finland, France, Sweden, and the European Union.
The intelligence service emphasized that the summit will result in the development of further steps to strengthen the sanctions coalition to weaken the economic basis for the Russian war machine.