In his daily address, Ukrainian President Volodymyr Zelenskyy announced the introduction of a new package of sanctions aimed directly at Russian economic activity in the Arctic. According to the head of state, this region is a key source of income for the aggressor, where Russia extracts resources worth tens of billions of dollars annually. “Today we have new sanctions – a package against Russian activities in the Arctic. This is a very profitable business for Russia,” Zelenskyy emphasized, stressing that restricting these flows will be a powerful blow to the financing of the war.
The Arctic generates a significant portion of Russia’s export revenues from oil, gas, and other resources. Zelenskyy called on international partners to join the pressure, similar to the sanctions against the Russian tanker fleet and oil companies. “We are working with partners so that, just as with the tanker fleet and Russian oil companies, our partners will also work against the entire volume of resources that the Russians sell from the Arctic. This is fair,” he said. The president also announced the synchronization of the Ukrainian package with the 19th sanctions package of the European Union, calling on countries outside the EU, in particular Norway, Switzerland, and the United Kingdom, to join the restrictions. “Our partners hear us and accept our proposals. Overall, we have very good coordination in our sanctions work, so we will continue to increase pressure on Russia for this war,” Zelenskyy added.