Russia's military campaign could potentially be bolstered by a spike in oil prices, according to a warning issued by Zelensky.
Taking a Sneak Peek at Today's Oil Prices and Ukraine's Struggle
In the bustling city of Kyiv, Ukraine, a steep climb in global oil prices following a wave of Israeli strikes on Iran is putting the nation in a precarious position. Ukrainian President Volodymyr Zelensky voiced his concerns about the situation with Western allies reportedly not enforcing effective limits on Russian oil exports[1].
Zelensky warned journalists on Friday that the surge in oil prices is a threat to Ukraine's standing on the battlefield[1]. "The increase in oil prices is a downside for us. The Russians are strengthening financially due to increased revenue from oil sales," he explained[1].
Oil prices soared as much as 7% after Israel and Iran traded attacks over the previous 48 hours, raising apprehensions about escalating conflict in the region possibly disrupting oil exports from the Middle East[1].
Diplomatic Strides and Concerns
To address the spiraling oil prices, Zelensky plans to raise this matter during his upcoming conversation with President Trump[1]. "I will have contact with the American side soon, likely with the president, and I will discuss this issue," Zelensky said[1].
One of Zelensky's biggest worries is that U.S. military assistance to Ukraine may be diverted towards Israel amidst the escalating struggles in the Middle East[1]. "We hope aid to Ukraine does not decrease because of this situation," the Ukrainian president added[1].
The U.S.-Israel Shift and its Impact on Ukraine
Ukraine's military needs have taken a backseat as the United States prioritizes support for Israel[1]. The case in point is a shipment of 20,000 interceptor missiles intended for Ukraine, but redirected to Israel instead[1]. Zelensky expressed dismay, stating, "It was a blow for us when we face hundreds of drones daily, most of which get shot down or veer off course, but some manage to sneak through[1].
Another piece of equipment, the Barak-8 air defense system promised by Israeli Prime Minister Benjamin Netanyahu, went to the U.S. for repairs instead of reaching Ukraine[1].
Various Fronts of the Battle
The situation has slowed momentum for the Coalition of the Willing, a group pledged to intensify support for Ukraine against Russian aggression[1]. Zelensky acknowledged the ambiguity of the U.S. regarding providing a safety net, stating, "This demonstrates that Europe has not yet made up its mind about being fully on Ukraine's side if America isn't[1]."
Despite these complications, Zelensky revealed that the enticing offer of a foreign troop "reassurance force" from the Coalition is still up for grabs, provided the U.S. offers a safety net[1]. "They need a support system from America; otherwise, suddenly, if something happens, they won't be present[1]."
Interestingly, the Ukrainian president indicated for the first time that the presence of foreign contingents in the country could empower Ukraine to make territorial compromises during negotiations with Russia[1].
Body and Prisoner Exchanges
In other developments, Russia and Ukraine have exchanged deceased soldiers' remains, following peace talks in Istanbul between Russian and Ukrainian delegations[2]. Ukraine returned 1,200 bodies to Russia, while there were no Russian bodies returned on that particular day[2].
Efforts to exchange sick and gravely wounded troops between the two nations also took place on Saturday, according to officials from both sides[2]. The sides did not disclose the exact number of troops exchanged.
Ukrainian servicemen coming back were members of the armed forces, National Guard, State Border Guard Service, and State Transport Special Service, as per a statement from Zelensky[2].
Exploring Further
- Read More: Ukraine and Russia agree to swap dead and wounded troops but report no progress toward ending war
- Read More: Russia and Ukraine swap hundreds of prisoners, hours after Moscow's massive missile-and-drone attack
- Read More: Russia and Ukraine swap hundreds more prisoners hours after a massive attack on Kyiv
[1] Associated Press. (2025, June 9). KYIV, Ukraine - Rising Oil Prices Benefit Russia Amid Ukraine Conflict. Retrieved June 10, 2025, from http://news.yahoo.com/kyiv-ukraine--rising-oil-prices-benefit-russia-amid-ukraine-210046995.html
[2] Associated Press. (2025, June 10). In Other Developments, Russia Repatriates Bodies of Fallen Soldiers and Ukraine and Russia Exchange Prisoners of War. Retrieved June 10, 2025, from http://news.yahoo.com/in-other-developments-russia-repatriates-bodies-of-fallen-210054599.html
[3] U.S. Energy Information Administration. (2025, June 9). Today in Energy - Tight Oil Supply, Strong Demand Push Brent Crude Prices Above $66 per Barrel. Retrieved June 10, 2025, from https://www.eia.gov/todayinenergy/detail.php?id=45638
[4] Reuters. (2025, June 10). Oil prices edge up on geopolitical tensions, optimism over China trade talks. Retrieved June 10, 2025, from https://www.reuters.com/business/energy/oil-prices-edge-up-geopolitical-tensions-optimism-over-china-trade-talks-2025-06-10/
Enrichment Data:
Overall:- Current Status of Oil Prices: (As of June 9, 2025)[3] - Brent crude: $66.65 - WTI: $64.77 - Oman crude oil: $65.83
- Impact on Ukraine's Military Capabilities:
- Higher oil prices can strain Ukraine's economy, especially if it depends heavily on oil imports.
- Fluctuations in oil prices and geopolitical tensions can influence external support for Ukraine.
Recent Israeli Strikes on Iran:- A series of Israeli strikes on Iran can contribute to regional instability, leading to fluctuations in oil prices.- Escalating tension in the Middle East can indirectly affect Ukraine by causing global economic uncertainty and potential geopolitical realignment.
- Despite the ongoing conflict in Ukraine, President Zelensky is seeking to discuss the rising oil prices with President Trump, highlighting the potential financial advantage for Russia due to increased oil sales.
- The Ukrainian president has expressed concerns about the U.S. military assistance to Ukraine potentially being diverted towards Israel amidst the escalating struggles in the Middle East.
- The soaring oil prices, a result of tensions between Israel and Iran, are causing financial strengthening of Russia, according to Zelensky, posing a threat to Ukraine's military standing.
- The energy sector, particularly oil and gas, is a significant industry in California, and fluctuations in global oil prices can have far-reaching implications for the state's economy, as well as impacting political and general news headlines.
