President Volodymyr Zelensky on June 11 called on the European Union to impose tougher sanctions against Russia, arguing that stronger financial pressure is necessary to curb Moscow's war effort.
Speaking at the Ukraine-Southeast Europe Summit in Odesa, Zelensky said the upcoming 18th EU sanctions package "could be stronger," especially in targeting Russian oil tankers and the financial sector. He urged the EU to further reduce the price cap on Russian oil exports.
"A ceiling of $45 per barrel of oil is better than $60, that's clear, that's true. But real peace will come with a ceiling of $30," he said. "That's the level that will really change the mindset in Moscow."
After the 17th package of sanctions against Russia took effect on May 20, Ukraine's allies announced the following day that another round of restrictions was already in the works.
European Commission President Ursula von der Leyen announced on June 10 that the EU is considering lowering the oil price cap from $60 to $45 per barrel — a measure that will be discussed at the upcoming G7 summit in Canada on June 15–17.
The Kremlin's budget is increasingly strained by soaring military expenditures, with Russia's Finance Ministry relying heavily on energy revenues to fund the war against Ukraine.
The push for tighter sanctions comes as Russia continues to reject ceasefire proposals and presses forward with military operations. Zelensky warned that Odesa remains one of Russia's "main targets," with plans to push beyond it toward the borders with Romania and Moldova.
"Russia wants to destroy it, as it has done with countless cities and villages in the occupied territories," he said. "Russian military plans point to this region — Odesa — and then to the border with Moldova and Romania."
Odesa is a major port city in southern Ukraine, located on the northwestern coast of the Black Sea. The president warned of possible destabilization efforts in the broader region, comparing the Kremlin's strategy to its previous interference in the Balkans.
"We saw this before in the Balkans, where Russia intensified interethnic friction, carried out sabotage, and even attempted coups," Zelensky said.
The Odesa summit was attended by several southeastern European leaders, including Serbian President Aleksandar Vucic and Romania's newly elected President Nicusor Dan.
Vucic's trip marked his first official visit to Ukraine since the start of Russia's full-scale invasion.
Tim Zadorozhnyy
(Updated: )
