Zelenskyy: Russia earned $10 billion in two weeks of the Iran war

Ukrainian President Volodymyr Zelenskyy said on Sunday that Russia earned $10 billion in two weeks of the US‑Israeli war with Iran, roughly 10% of what Moscow has lost in the oil trade so far in 2026. He said Ukrainian intelligence showed global oil sanctions and Kyiv’s strikes on Russian energy infrastructure had pushed Moscow’s 2026 oil trade deficit to more than $100 billion.

Oil prices jumped after the US and Israel launched Operation Epic Fury on February 28, with both bombing Iran’s oil infrastructure, which supplies mainly Asian markets, and Tehran’s retaliatory strikes also damaging energy facilities. Attacks in the Strait of Hormuz have impeded shipping on a lane that carries about a fifth of the world’s oil.

The Trump administration announced a temporary easing of sanctions to ease global supply, allowing trade in Russian crude for roughly four weeks, a move Zelenskyy warned would aid Putin. Oil and gas remain central to Russia’s economy.

Russia, Strait of Hormuz

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