War to conclude by year-end? Presidential Office outlines conditions

Russia’s oil and gas revenues have halved, but a decisive breakthrough requires «sanctions synergy» between the US and EU, as well as a real halt to Russia’s shadow fleet, Deputy Head of Ukraine’s Presidential Office, Ihor Zhovkva, told TSN.ua.

Economic indicators: Kremlin revenues shrinking

According to Zhovkva, it is better to rely on objective indicators rather than calendar dates. Last year, Russia’s export capacity fell sharply: oil and gas sector revenues were halved. This was aided by targeted US sanctions against giants Lukoil and Rosneft.

«We are seeing Russia’s GDP fall and the budget deficit rise. These are objective processes, but, unfortunately, not all sanctions are forceful enough, ” Zhovkva stressed.

Shadow fleet problem and 20th sanctions package

A major challenge remains Russia’s «shadow fleet, ” which allows the Kremlin to circumvent restrictions. Zhovkva noted that Ukraine expects the EU’s 20th sanctions package around February 24, with particular attention to maritime services.

• Legislative gaps: France and Estonia have previously detained Russian tankers but were forced to release them due to insufficient legal framework to stop such vessels completely.

• New Ukrainian initiative: Kyiv has proposed personal sanctions targeting the captains, crews, and owners of shadow fleet ships.

Recipe for victory: partner synergy

Ihor Zhovkva stressed that sanctions only become truly effective when applied jointly.

«When US sanctions against Lukoil and Rosneft coincided with the EU’s 19th package, it produced excellent results. We are working to ensure such synergy is repeated this year with the participation of the US, EU, UK, and Japan, ” he said.

The Presidential Office also insists on increasing pressure on Russia’s banking sector and nuclear industry, which remain «under-sanctioned.»