Tuesday, 02 January 2024 12:17 GMT

Another Blow To Russian Oil? Ukraine Seeks US Partnership To Supply Crude To Europe


(MENAFN- Live Mint) Ukraine has suggested the United States ways it could help Washington replace Russia to sell oil to Europe, as President Donald Trump pushes the EU to back off from investing in Moscow's energy to end its war on Ukraine, according to a report by The New York Post.

Ukrainian Energy Minister Svitlana Grynchuk told the newspaper that the pipelines situated beneath Ukraine's surface could be used to supply fuel either drilled in the country with the US-Ukraine mineral deal or shipped in from America.

“Ukraine's gas and oil infrastructure has always been a key part of European energy security because Ukrainian territory was like a transit from Russia to Europe - and we have very, very good gas and oil infrastructure,” the minister was quoted as saying.

The suggestion, if taken in, could mean that American oil can soon replace Russia in the energy sector of European countries.

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“The US and other international partners could use this infrastructure for ensuring European energy security by supplying it and also the storage potential of gas and oil in Ukraine ,” Grynchuk said.

Ukraine proposes idea at UNGA

Andriy Yermak, the top advisor of Ukrainian President Volodymyr Zelensky, told The New York Post that he proposed the idea to US Ambassador to the United Nations Mike Waltz on the sidelines of the UN General Assembly last week.

He told the newspaper that Kyiv could help the US supplant Russia in giving oil holdout to European countries.

According to him, US could see its economy skyrocket and help Kyiv stop the war against Moscow should Donald Trum join in on the offer.

“I asked him to introduce me to your Secretary of Energy,” Yermak said of his conversation with Waltz.

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Ukraine has the highest amount of liquid gas storage across all of Europe.

“I asked him that please, as soon as possible, please arrange the meetings [between US Energy Secretary Chris Wright and Grynchuk,] and we can come,” Yermak said.

Is US on board?

However, the proposal tabled by Ukraine is still in early stages and the US' reaction to it is unclear.

“We need to work together, because Ukraine is the responsible partner [over Russia,]” Yermak said.“We are open. Let's see things together, and let's work together.”

Oil has acted as Russia's main source of income in fuelling its war with Ukraine. Weaning off the trade would mean that Moscow is likely to be pressured into signing a peace deal as Trump wants.

The US President has been hounding European nations who buy Russian oil, asking them to stop the purchases if they wanted to end the war in Ukraine.

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