| 10 December 2023, Sunday |

Estonia calls on oil-producing countries to help reduce Russia’s energy revenues

Estonian officials urged oil-producing nations to find a solution to decrease Russia’s energy revenues without affecting global oil markets, in an effort to bring an end to the conflict in Ukraine.

“We need to recognize the fact that much of Russia’s revenue is derived from energy exports, primarily oil exports, (and) we need to find a way to cut those revenues without upsetting … the international oil market,” Jonatan Vseviov, secretary-general of Estonia’s Ministry of Foreign Affairs, told Arab News during a press briefing

“Oil-producing states are crucially important; obviously consuming states are equally important but producing states are perhaps even more important. Helping to find ways to maintain stability in the international market while helping to cut revenues will bring the end of the war (in Ukraine) closer.”

This is a key strategy oil-producing states can investigate further, he suggested.

“The United Nations General Assembly includes every country on the planet,” said Vseviov. “Most of the United Nations member states care deeply about the United Nations Charter, sovereignty, territorial integrity, these (kind of) concepts, (and) we’ve had a number of votes now on important resolutions that concern Ukraine, with overwhelming international support.”

Vseviov called on UN members “to keep that going” and said each country’s vocal support “can hopefully support us in upholding an international order that we think serves all rules of law and all those countries interested in a rules-based order as well.”

Speaking during a press briefing on the eve of the three-day Lennart Meri Conference in the Estonian capital, Tallinn, during which experts in foreign and security policy will discuss the ways in which the war in Ukraine has affected the global balance of power, he added: “This is a globalized economy, everybody can contribute. So, if you want to help to end the war sooner rather than later, help us enforce and reinforce the message that the costs of continuing this aggression far outweigh the costs of stopping this for the Russians.”

Vseviov said every country that has a voice and a vote in UN matters “hopefully can support us in upholding an international order that we think serves” the rule of law.

Looking ahead to the conference, which begins on Friday, he said: “I’m absolutely confident that at the end of the summit, we will have a consensus on everything that’s on the table. It’s going to take a lot of work but we’ll get there.”

  • Arab News