The Australian Federation of Ukrainian Organisations (AFUO) acknowledges the Australian Government for its continued efforts to constrain Russia’s oil revenues, including yesterday’s announcement of further sanctions on Russia’s so-called “shadow fleet” and a reduction of the oil price cap.
However, the AFUO stresses that unless all loopholes are closed, Russia will keep finding alternative buyers and channels to fund its brutal invasion of Ukraine. Refineries in countries such as India are still purchasing large volumes of Russian crude outside the price cap system, while Russian-derived fuels refined in third countries continue to enter markets like Australia, sustaining Russia’s military industry complex. Additionally, most of the shadow fleet vessels targeted in the latest announcement do not operate in Australian waters, limiting the direct impact here.
“Since February 2023, it is estimated that Australia has sent more than $2 billion in oil-related taxes to Russia, effectively funding the ongoing invasion of Ukraine,” said Kateryna Argyrou, AFUO Chair.
“While we acknowledge the Government’s latest sanctions, they will not stop Russia on their own. Australia must now match the stronger action of our European partners and work to close the loophole that allows Russian oil to keep reaching us through third party refineries.”
To make a real difference, Australia must:
- Ban imports of fuel products from third countries or refineries using Russian crude, following the lead of our European allies.
- Strengthen monitoring and enforcement measures, drawing on the extensive shipping, refinery, and trade flow data already available through international research bodies such as the Centre for Research on Energy and Clean Air (CREA).
- Focus sanctions on revenue flows at the source, not just on vessels that may never enter Australian jurisdiction.
“Every day, Russia’s oil exports pay for bombs and missiles that rain down on Ukrainian cities, hospitals and schools,” said Ms Argyrou.
The AFUO calls on the Albanese Government to act urgently, so that Australian consumers and businesses are not unwittingly complicit in financing Russia’s war.More information: Stop Fuelling Russia’s War – Take Action Now
