The vast majority of European countries in 2022-2024, before President Donald Trump returned to the US presidency in January 2025, bought much more oil and gas from Russia than they provided support to Ukraine, said US Deputy Secretary of State Christopher Landau.
“I knew that many of these countries had tied their energy fortunes to Russia, but I had no idea of the scale of this or how much (collectively) it overshadowed their aid to Ukraine,” he wrote on social media on Saturday.
Landau illustrated his post with a chart provided to him by the US State Department. He specified that he had requested this data in connection with his trip this week to a meeting of NATO foreign ministers, replacing Secretary of State Marco Rubio. After the meeting, Landau sharply criticized the EU countries.
According to the chart, only five of the 24 European countries provided Ukraine with financial assistance (grants and loans) that exceeded Russia’s payments for oil and gas: the United Kingdom, Denmark, Sweden, Norway, and Switzerland. In the case of Switzerland, there are no oil and gas payments to Russia, while in the case of the Scandinavian countries, they are small – up to $1 billion, with aid to Ukraine ranging from $5 billion to $10 billion (here and below are approximate figures, as the chart does not contain exact data). Overall, Denmark, Sweden, and Norway ranked 3rd, 6th, and 8th, respectively, in terms of aid to Ukraine among the 24 countries listed.
And even in the case of the UK, which paid Russia about $3.5 billion for hydrocarbons, this is still much less than the aid provided to Ukraine, which is estimated at $15 billion — the second highest figure among the 24 countries.
Finland’s aid to Ukraine and purchases of Russian oil and gas are roughly equal, while in the case of Lithuania and Latvia, oil and gas payments to Russia already exceed aid to Ukraine, according to the US State Department’s estimates. (Estonia is not included in the chart, as are other countries whose aid or hydrocarbon imports from Russia during this period were less than $1 billion.
Germany, Ukraine’s largest European donor with approximately $17.5 billion in aid, purchased $20 billion worth of Russian oil and gas in 2022-2024. The Netherlands, which ranks fourth on the list of aid with approximately $8.5 billion, imported nearly $5 billion worth of hydrocarbons from Russia.
In France, this ratio is approximately $6 billion against more than $20 billion, in Poland $5.5 billion against $12 billion, and in Italy $3 billion against $27.5 billion: this is the 10th indicator in terms of aid to Ukraine and the 2nd in terms of imports from Russia.
The absolute record holder in this regard is Turkey, whose financial support to Ukraine is difficult to estimate even at $0.2 billion, while purchases of Russian oil and gas amount to about $32 billion.
Hungary, with even smaller amounts of aid, sent Russia about $22 billion for oil and gas, and Slovakia sent about $18 billion, although its support for Ukraine can be estimated at approximately $1.5 billion.
The Czech Republic’s financial assistance to Ukraine in 2022-2024 is about $1 billion, according to the US State Department’s estimates, which is also much less than the volume of Russian hydrocarbon purchases, which amounted to about $15 billion. Spain looks better in terms of these indicators
— $2 billion versus $12 billion — as does Bulgaria — $0.5 billion versus $9 billion.
Peace talks between Russia and Ukraine may resume in Turkey, Turkish Foreign Minister Hakan Fidan said in an interview with broadcaster A Haber.
“Well, of course, we cannot go into details for reasons that you will understand, I mean, I think it (the talks – IF-U) could happen in Turkey, it could happen in other places. But this peace not only must happen, it will happen,” the minister said.
Fidan stressed that the war is now at its “darkest moment” and that both sides, according to him, are focused on destroying each other’s infrastructure. He noted that the use of drones and “kamikaze” drones makes it difficult to move around and conduct operations, and that the successes of the Ukrainian and Russian forces come at a high human cost.
Ukrainian President Volodymyr Zelensky held talks with Turkish President Recep Tayyip Erdogan, during which the parties discussed the current diplomatic situation and the opportunities it opens up.
“President Erdogan confirmed his country’s readiness to organize a summit between the leaders of Ukraine, the US, Russia, and Turkey,” Zelensky wrote on Telegram on Tuesday.
According to him, Erdogan said that any negotiations without Ukraine would not bring stable peace.
“We all understand the risks and threats equally. A fake, rather than honest, peace will certainly not last long and will encourage Russia to seize even more territory. I noted that we are ready for any format of meeting in order to stop the killings and end the war,” the Ukrainian president added.
The parties also discussed high-level events that Ukraine is preparing during the UN General Assembly and Turkey’s participation in them.
According to the Turkish Presidency’s Twitter page, during the conversation, which took place at the request of the Ukrainian side, bilateral relations between Turkey and Ukraine, as well as regional and global issues, were discussed.
“Recognizing the valuable progress achieved in direct talks in Istanbul between Ukraine and Russia, President Erdogan expressed his hope that the next rounds of talks would yield meaningful results for a ceasefire on the path to lasting peace. Noting that Turkey is ready to host a summit at the leadership level, President Erdogan expressed his conviction that the establishment of working groups in the military, humanitarian, and political spheres will pave the way for the summit,” the statement said.
Erdogan also stressed that Turkey continues to support Ukraine’s sovereignty and territorial integrity.
As reported, last Friday, US President Donald Trump announced that his meeting with Vladimir Putin would take place on August 15 in Alaska.
During its spring offensive, Russian forces took control of one of Ukraine’s most promising lithium deposits — the Shevchenkivske site in Donetsk region. Previously under development by an American critical minerals company, the site was seen as a key asset in the growing economic partnership between Kyiv and Washington in the field of strategic resources. Its capture now poses serious risks to future joint projects and has already raised concerns among Western investors.
The Shevchenkivske deposit contains significant reserves of spodumene — a mineral from which lithium is extracted. Lithium is essential for manufacturing batteries used in electric vehicles and energy storage systems. Ukraine had earlier signed a framework agreement with the United States on cooperation in the field of critical raw materials, including the development of domestic lithium, titanium, and rare earth element extraction — crucial for the West’s green energy transition. The agreement envisioned attracting investment into Ukrainian subsoil resources. However, with Shevchenkivske now under Russian control, the feasibility of that cooperation is under threat.
Myroslav Zhernov, the director of the company holding the license for the site, confirmed the loss in a comment to The New York Times. According to him, the battle for the deposit lasted several weeks: “It was very hot. They were bombing with everything they had. And now they’re there.” Zhernov warned that this may not be the end: “If the Russians advance farther, they will control more and more deposits.”
The New York Times reports that signs of activity have already been observed on the occupied territory: an assessment of reserves is underway, and preparations for future extraction may be in progress. In this way, control over lithium could give the Kremlin not only military but also geoeconomic advantages. The article notes that Russia is already leveraging its influence in global raw materials supply chains, particularly in uranium markets.
Although Ukraine still possesses two other major lithium deposits in its western regions, Shevchenkivske was considered the most promising due to its high spodumene concentration — up to 90%. In peacetime, the development of this site could have become not only a source of revenue, but a strategic lever for integrating Ukraine into Western critical materials markets.
Former head of the State Service of Geology and Mineral Resources, Roman Opimakh, explained that such investments are subject to enormous risks during wartime: “Security and control over a deposit is the main prerequisite. The military threat scares away investors, and the loss of such a site effectively nullifies any near-term development plans.”
Observers note that the war is increasingly taking on characteristics of economic conflict. Russia is not only destroying infrastructure but is actively targeting resources that could be useful to itself or potentially strengthen Ukraine. Gaining control over lithium assets allows for pressure on Western corporations and contributes to reshaping global dependencies.
Despite the loss, Zhernov said his company is not giving up on investing in Ukraine and is exploring other options. However, he admitted the situation has fundamentally changed risk assessments: “Before, we saw this project as a driver of economic growth. Now — it’s just another front in the war.”
Earlier, the Experts Club information and analysis center produced a detailed video analysis of the prospects for rare earth element mining in Ukraine.
Ukraine has extended anti-dumping duties on imports of cement from Moldova, Russia, and Belarus, as well as coated rolled metal products from China and Russia, for five years. According to a statement released by the
Ministry of Economy on Thursday, the decision was made by the Interdepartmental Commission on International Trade (ICIT) on May 21, 2025, following appeals from Ukrainian companies.
“If you are a manufacturer and face aggressive non-market competition, please contact the Ministry of Economy to initiate anti-dumping investigations. Ukraine adheres to the principles of openness but is ready to protect its market in accordance with WTO rules,” the release quotes First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko as saying.
As reported, in 2019, the ICIT imposed anti-dumping duties on imports of cement clinker and Portland cement to Ukraine under codes 2523 10 and 2523 29, at the following rates: 57.03% on cement from Belarus; 94.46% on cement from Moldova; 114.95% on cement from Russia. The duties were imposed for a period of five years. In May last year, at the request of Dickerhoff Cement Ukraine, Ivano-Frankivskcement, supported by
Kryvyi Rih Cement, the ICIT initiated a review of these duties, which extended their validity for up to one year.
As it became known at the conference “Trade Wars: The Art of Defense,” organized by Ilyashev & Partners in Kyiv this week, Lafarge Ciment (Moldova) SA offered voluntary price restrictions in order to return to the
Ukrainian market. Market participants called for the proposed prices to be made public.
As for imports into Ukraine of certain types of rolled steel with anti-corrosion coating originating from Russia and China, anti-dumping measures were introduced in 2019 for five years for manufacturers/exporters of goods from Russia at a rate of 47.57% and from China at a rate of 22.78%. In May last year, at the request of PJSC Mariupol Metallurgical Plant named after Ilyich and LLC Unistil, the MCMT launched a new investigation as part of a review of these duties.
BELARUS, CEMENT, CHINA, IMPORT, MOLDOVA, rolled metal, RUSSIA
The European Union has approved a 17th package of sanctions against Russia, aimed at increasing pressure on the Russian economy and limiting opportunities to circumvent previously imposed restrictions. A key element of the new package is the introduction of sanctions against Russia’s so-called “shadow fleet” — a network of ships used to circumvent sanctions and export oil.
Sanctions against the “shadow fleet”
As part of the new sanctions package, the EU has imposed restrictions on around 200 vessels linked to Russia’s “shadow fleet.” These vessels, often old and poorly insured, are used to transport Russian oil in circumvention of the restrictions in place, including a price cap of $60 per barrel.
Sanctions against companies and individuals
The new sanctions package also includes:
31 companies involved in arms supplies and sanctions evasion.
75 individuals linked to the Russian military-industrial complex, including judges involved in cases against opposition figures.
Financial institutions supporting Russia’s military actions.
Protection of critical infrastructure
The EU has also imposed sanctions on organizations and individuals involved in cyberattacks, human rights violations, and sabotage of critical infrastructure, including submarine cables and energy facilities.
Outlook
Despite the introduction of the 17th package of sanctions, additional measures are being discussed, including the possible introduction of 500% tariffs on Russian oil imports to countries that continue to purchase it. Restrictions on imports of liquefied natural gas (LNG) from Russia are also being considered.
