June 14, 2025
Rising gas prices pour billions into Putin's war chest against Ukraine
Oil price surge pours billions into Putin's war chest against Ukraine
🛡️National Security🌍Foreign Policy💰Economy
Global oil prices rose 7% after Israel and Iran exchanged attacks, according to President Zelenskyy’s Jun. 14, 2025 warning.
Oil revenues account for approximately 30% of Russia’s federal budget, directly funding its war effort in Ukraine.
Every $10 increase in oil prices adds about $300 per year to the average American household’s gasoline and heating bill.
The U.S. Strategic Petroleum Reserve exists to help lower domestic oil prices in emergencies, but political considerations have often prevented its release.
Despite high domestic output, the United States still imports oil, leaving American consumers vulnerable to geopolitical disruptions.
Western allies have not enforced effective price caps on Russian oil exports, allowing Moscow to benefit from elevated global oil prices.
🛡️National Security🌍Foreign Policy💰Economy
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10
Q1
By what percentage did global oil prices rise after Israel and Iran exchanged attacks?
Q2
What exact quote did Zelenskyy give about oil prices being "negative for us"?
Q3
Russian forces launched 58 drones at Ukraine on the night Zelenskyy made these comments.
Q4
Zelenskyy expressed concern that U.S. military aid could be diverted away from Ukraine toward Israel.
Q5
How many countries are in the Coalition of the Willing supporting Ukraine?
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Volodymyr Zelenskyy (President of Ukraine)
warned Jun. 14, 2025, that the 7% oil price surge after Israeli strikes on Iran directly strengthens Russia's war effort by increasing oil revenues that fund weapons production.
Vladimir Putin (President of Russia)
presides over a government that derives 23-30% of its federal budget from oil and gas revenues, using that income to fund the invasion of Ukraine.
Chris Wright (U.S. Energy Secretary)
oversees the Strategic Petroleum Reserve under Trump; prioritized refilling the reserve rather than releasing oil to counter the June 2025 price spike, after the Biden administration drew it down by 180 million barrels in 2022, limiting U.S. leverage against oil price surges that benefit Russia.
Benjamin Netanyahu (Prime Minister of Israel)
ordered Jun. 12, 2025 strikes on Iranian oil depots and nuclear facilities, triggering the 7% oil price spike that Zelenskyy warned would fund Putin's war.
Saudi Arabia Crown Prince Mohammed bin Salman (MBS)
controls OPEC+ production decisions; Saudi Arabia increased output by 248,000 barrels per day in Sep. 2025 but declined to flood markets enough to crash prices and defund Russia.
UAE Energy Minister Suhail Al-Mazrouei
coordinates OPEC+ output; UAE increased production by 98,000 barrels per day in Sep. 2025 as part of gradual unwinding of cuts, prioritizing revenue over geopolitical pressure.
European Union Energy Commissioner
negotiated lowering the Russian oil price cap from $60 to $47.60 per barrel effective Sep. 3, 2025, attempting to squeeze Putin's revenues without collapsing global supply.
U.S. Treasury Office of Foreign Assets Control (OFAC)
enforces sanctions and price cap compliance by sanctioning shadow fleet tankers and insurers that enable Russia to evade the $60 cap, though 62% of Russian crude still moved via shadow tankers by Oct. 2025.