Falling Global Oil Prices Increase Pressure On Russia Zelensky

(MENAFN- UkrinForm) According to Ukrinform, President Volodymyr Zelensky said this in his evening address on Telegram.

“Even the announcement of a ceasefire in the Middle East allowed markets to respond positively – oil prices have tumbled. At the same time, this sends the right signal regarding Russia – that, alongside our long-range sanctions, other instruments will also work,” he said.

Zelensky added that there are currently no grounds to ease sanctions pressure, particularly in light of the situation on the global oil market.

“If the Strait of Hormuz can be unblocked – and this is a global necessity – Russia's oil revenues should continue to decline. Oil fuels Russia's war and emboldens it. This is precisely why Russia invested so heavily in supporting the Iranian regime and sought to prolong that war,” the President stressed.

Read also: Iran shuts Strait of Hormuz again, threatens to abandon ceasefir

As reported by Ukrinform, the United States, Israel, and Iran have agreed to a two-week mutual ceasefire and to restore commercial shipping through the Strait of Hormuz.

Oil prices fell below $100 per barrel after U.S. President Donald Trump announced a two-week ceasefire with Iran, conditional on the immediate and safe reopening of the Strait of Hormuz.

Ukrainian military representatives are participating in consultations on how the Strait of Hormuz will operate.

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