Russia continues to earn $1 billion a day from oil exports, as he urged countries to block Russia's cashflow over the invasion of Ukraine, according to an economic advisor to Ukrainian President Volodymyr Zelenskyy.
The calls by Ustenko, Zelenskyy, as well as other Ukrainian officials and everyday victims of the war have gone unheeded.
Ustenko made a new case for blocking Russian oil sales in an interview with MoneyS, which was posted on the website of the Ukrainian presidential office.
Putin makes $1 billion a day from oil alone. European countries have increased their imports of Russian oil.
Some European nations are worried about inflation. Ustenko predicted that the market will undergo a rapid correction and prices will return to acceptable levels.
He said that other countries could increase production to make up for an embargo on Russia. The bloc of oil- producing nations, known as the Organization of the Petroleum Exporting Countries, said that it does not plan to make any such moves.
Russian oil imports have been banned by the US. It imported relatively little in the beginning. Most Western nations rely on Russian fuel mostly in the form of natural gas.
These nations did not impose punishing measures on the energy sector.
The billion-dollar-a-day figure has been confirmed elsewhere.
The EU's top diplomat said last week that the EU pays Putin a billion dollars a day for the energy he supplies.
The bloc is trying to reduce its dependence on Russian oil and gas, but has given a time frame for doing so.
A former economic advisor to Putin said on Saturday that an effective oil and gas embargo on Russia could force the end of the war in Ukraine in 8 weeks.
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