The Foreign Intelligence Service of Ukraine (FISU) has reported that if pressure on Russia continues, the losses from the recent restrictions alone could reach US$50 billion per year.

Source: FISU

Details: Oleh Ivashchenko, Head of Foreign Intelligence Service of Ukraine, briefed President Volodymyr Zelenskyy on the first detailed assessments of how the latest sanctions imposed by Ukraine's allies are affecting Russia's military machine.

Based on this information, Ukraine's communication with partners on new sanctions will be adjusted.

Quote: "Russia has already suffered significant losses from the restrictions earlier imposed on oil companies, and it is expected that if principled and consistent pressure on Moscow continues, their losses from the recent restrictions alone will amount to at least US$50 billion per year."

Details: "But partners will also take more sanction steps – we are already getting such signals," Zelenskyy wrote on X (Twitter). "The volumes of oil supplied to the global market by Arab states can certainly prevent any destabilisation or price spikes that the Russians are talking about to sow fear."

The FISU also reported that "regular data exchange with key countries on Russian individuals and schemes that deserve sanctions has also been established." Many of Ukraine's proposals are being taken into account by its partners, the statement added.

"Measures concerning Russia's tanker fleet, which were discussed with European leaders at the meeting of the Coalition of the Willing, must also be fully implemented," the FISU added.

Ivashchenko also briefed Zelenskyy on the mood and near-term plans of China's leadership in the context of Russia's war against Ukraine.

"It is important that China contributes to efforts aimed at stopping Russia's ongoing attempts to expand and prolong the war. Our diplomats will receive relevant instructions based on information from recent meetings in the region," the president said.

Background:

• Earlier, the FISU reported that the price of Russian Urals oil had fallen to its lowest level since spring, calling into question the realism of the budgetary plans of both Moscow and Minsk.
• The intelligence service also said that Russia is increasingly "paying off" its allies in the war against Ukraine with its own territory. Lacking resources to develop its largest region – the Far Eastern Federal District – Moscow is paving the way for external expansion.
• Previously, the FISU stated that Russia is trapped by its increased military spending and the fact that its defence industrial base has become the main driver of domestic demand.
• Russia's economy has more serious problems than is officially acknowledged, and there is a real risk of a systemic banking crisis during the year.

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