A top economic advisor to Ukrainian President Volodymyr Zelensky told CNBC that countries who were importing oil and natural gas from Russia were ultimately financing the country's invasion of Ukraine with "bloody money."
International governments have imposed massive sanctions on Russia, aimed at bringing the country's economy to its knees and cutting off funding for its military. Measures have included blocking transactions from Russia's central bank and barring some banks from using SWIFT for communications about cross-border transactions.
But the sanctions have avoided targeting Russia's oil and natural gas exports, which many countries, particularly in Europe, rely upon.
Oleg Ustenko, one of Zelensky's advisors, told CNBC on Monday that countries buying Russia's oil and natural gas were "responsible" for financing Russia's military actions.
"It's extremely important to cut off them from these bloody money receipts," Ustenko said. "And we do believe that by doing this we will be able really to hit Russians very hard." Zelensky urged countries to boycott imports of Russian oil and natural gas on Monday.
Ukrainian presidential advisor says the West is financing Russia's invasion with 'bloody money' from oil and natural gas purchases
Something I said here days ago regarding nations being hypocritical about saying they were "all in" on support for Ukraine, but meanwhile continuing to purchase the main export from the country they are being invaded by. In the US, Biden is worried that sanctioning imports of Russian oil will increase the price of fuel at the gas pumps and hurt his already low poll numbers, as inferred by statements made by his own press secretary. But, the price of gas in the US was on the rise well before the invasion, and even before Russia started massing troops at Ukraine's border. In my opinion, it would be a much better look if the increase were actually tied to support for Ukraine due to sanctioning Russia's top export.