Ukrainian climate group Razom We Stand expresses profound concern and vehemently condemns yesterday's decision by the U.S. government to authorize transactions with Russian banks for settlements in the energy sector. This move, issued by the Department of the Treasury yesterday, undermines efforts to isolate financial support for entities that are directly involved in funding well over 130,000 alleged war crimes in Ukraine.

"At a time when the US should be standing firm against those perpetuating war, the decision to allow transactions with Russian banks involved in the energy sector is deeply troubling," says Svitlana Romanko, Founder and Director of Razom We Stand. “Russian energy firms must not be rewarded for the devastation they have contributed to by channelling funds into Putin’s war chest. Instead, substantial financial aid must be directed towards the clean energy rebuilding of Ukraine. It is imperative that we do not support Russian fossil fuel companies, which have served as a core funding source for Putin's war efforts for over two years since the war began.”

Since the full-scale invasion of Ukraine in February 2022, Russia's revenues from fossil fuel exports have surpassed EUR 660 billion. This financial support enables Russia to continue its brutal assault on Ukraine's energy infrastructure, which has devastating consequences for civilian populations, leaving thousands without electricity.

These attacks have permanently damaged Ukraine’s energy system, not only taking out generating stations but even trying unsuccessfully to go after the vast underground gas storage facilities the EU leaned on last winter to avoid its own energy shortages.

At Razom We Stand, we firmly believe in the power of economic sanctions to hold accountable those responsible for fueling conflicts. Allowing financial transactions with Russian banks involved in the energy sector risks channelling funds to entities that may contribute to more innocent lives lost and cities destroyed.

We call on the U.S. government to re-examine this decision and to prioritize actions that promote peace and stability in Ukraine. Our organization stands united against any flow of funds that could support the war or bolster fossil fuel industries that are destroying our planet.

ENDS

Razom We Stand is a Ukrainian organisation active internationally, calling for a total and permanent embargo on Russian fossil fuels and an immediate end to all investment into Russian oil and gas companies by phasing out fossil fuels globally.

Svitlana Romanko was recently quoted on the White House's official website in response to the Biden administration's decision to pause LNG exports and has appeared in top-tier international press, including Washington Post, CNN, NBC, Politico, Bloomberg, The Hill, Financial Times, The Guardian, Der Spiegel, and Le Monde; a detailed list is here.

For media inquiries or further information, please contact

Paraic Walker  - press@razomwestand.org

International Communications Specialist Razom We Stand