Ukrainian President Volodymyr Zelensky has called for a sharper reduction in the price cap on Russian oil, urging international partners to lower it from $60 to $30 per barrel. He said the tougher measure is necessary to force Moscow to end its war against Ukraine.
In his June 10 evening address, Zelensky welcomed the European Commission’s proposed 18th sanctions package, which includes a suggested cut in the oil cap to $45 per barrel. However, he described that as a “compromise price” and argued it is not enough.
“Russia’s ability to continue the war depends on its ability to sell oil and bypass financial restrictions,” Zelensky said. “The cap should be no higher than $30. That level would apply real pressure and force them to seek peace.”
The current $60 cap was introduced by the EU and G7 nations in December 2022. It bans Western firms from transporting, insuring, or servicing Russian oil sold above that threshold, aiming to restrict the Kremlin’s war funding.
The proposed reduction to $45 will be debated further at the upcoming G7 summit from June 15–17. European Commission President Ursula von der Leyen confirmed the plan will be part of the talks. A previous push for lowering the cap at the May summit reportedly stalled after opposition from the U.S., according to the Financial Times.
Zelensky stressed the urgency of stronger measures in light of Russia’s escalating attacks. The president referenced a massive aerial strike on Kyiv the previous night, during which Ukrainian defenses intercepted 479 Russian drones and missiles in a record-breaking assault.
“It is vital that there is no silence in response to Russian escalation,” he said. “Enough compromises. Every compromise delays peace.”
He added that Russia has steadily increased its use of lethal weapons in recent months, making international action even more critical.