Zelensky Condemns US Extension of Russian Oil Waiver
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- Zelensky condemns the US extension of the Russian oil waiver, saying each dollar fuels Moscow's war effort.
- US extends the waiver until 16 May, allowing purchases of Russian oil already loaded at sea to ease the energy crunch caused by the US‑Israel‑Iran conflict.
- Russia allegedly operates a "shadow fleet" of over 110 tankers with more than 12 million tons of oil, potentially generating $10 bn for Moscow.
- Iran has virtually shut the Strait of Hormuz, a chokepoint for ~20% of global oil and LNG, heightening market volatility and recession fears.
- Ukraine endured a surge of Russian attacks in April, with over 2,360 drones, 1,320 bombs and nearly 60 missiles, and a deadliest night on 15 April that killed at least 18 people.
- Hezbollah's 10‑day truce with Israel is at risk of collapse, adding to regional instability.
Why it matters: Russia gains up to $10 bn from oil sales, bolstering its war budget, while Ukraine loses lives and strategic advantage; the extended waiver also eases global oil shortages but risks prolonging the conflict and deepening recession fears.
