Rising oil prices pour billions into Putin's war chest against Ukraine

Ukrainian President Volodymyr Zelenskyy issued a public warning that elevated global oil prices resulting from the Israel-Iran conflict were generating an estimated $200 million per day in additional revenue for Russia, directly funding the continued war against Ukraine. Zelenskyy called on G7 partners to impose stricter price cap enforcement and accelerate energy diversification to cut off Russian war financing. The statement highlighted the interconnected consequences of Middle East instability for European security.