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As Ukraine reeled from a missile attack on a train station that left at least 50 people dead and scores more injured, President Volodymyr Zelenskyy suggested Russia's invasion has been enabled by lucrative gas and oil exports that even some of its harshest critics find irresistible.
Following U.K. Prime Minister Boris Johnson's visit to Ukraine Saturday, Zelenskyy said in a video message, "Oil in particular is one of the ... sources of Russian arrogance, their feeling of impunity."
On March 8, the U.K. government said it would phase out imports of Russian oil over the course of 2022. The same day the administration of President Joe Biden said it would ban Russian oil, liquified natural gas, and coal.
The European Union, however, has not been as steadfast, arguing that a total and rapid ban on Russian fossil fuels could send the continent into a recession.
Zelenskyy has long argued there might not be a continent, at least not one that adheres to Western democracy, without an end to Russia's invasion of its closest European neighbor.
"The oil embargo has to be the first step, on the level of all democratic countries, the whole civilized world," he said in an NBC News translation of a Telegram video. "Then Russia will feel it, it will be a reason for them to search for peace, to stop the useless violence."
The president credited the U.K. for its embargo and for its unhesitating help with military aid. "Ukraine will always be thankful for that, thankful to Boris, and to the United Kingdom," Zelenskyy said.
The visit came as Russia was widely condemned for the attack on a railway station in Kramatorsk in the Donetsk region.
Zelenskyy said 50 people died in the strike which he called “another war crime of Russia” overnight on Telegram. Donetsk’s governor said nearly 100 people had been injured. NBC News has not been able to independently verify these figures.
Russia denied it carried out the attack, a claim dismissed as “unconvincing” by Pentagon press secretary John Kirby in a briefing Friday.
Zelenskyy thanks Boris Johnson for Kyiv meeting as U.K. offers more aid
Ukrainian president Volodymyr Zelenskyy thanked U.K. Prime Minister Boris Johnson for his Saturday visit to Kyiv where he briefed him on the ongoing war with Russia.
For his part Johnson said the U.K. would provide Ukraine with additional financial and military aid.
“This visit is a manifestation of strong, significant, constant support of the United Kingdom for Ukraine. We appreciate it and will remember it,” said Zelenskyy in a news release.
He added: "I am grateful to the United Kingdom for continuing these powerful sanctions, constantly increasing its packages, and also helping Ukraine by strengthening our defense capabilities."
Zelenskyy said that other Western democracies should follow the example of Great Britain , saying that it is time "to impose a full embargo on Russian energy, to increase the supply of all weapons to us."
Boris Johnson in Kyiv: ‘Putin must fail’
KYIV, Ukraine — U.K. Prime Minister Boris Johnson's surprise visit with Ukrainian President Volodymyr Zelenskyy in Kyiv included a pledge of 120 armored vehicles and new anti-ship missile systems, part of another 100 million pounds ($130 million) of high-grade military equipment. Johnson also confirmed an additional $500 million in World Bank lending, taking Britain’s total loan guarantee up to $1 billion.
Johnson said Ukraine defied the odds pushing Russian forces “from the gates of Kyiv, achieving the greatest feat of arms of the 21st century.″
Johnson also described a vision for a future Ukraine so fortified and protected by the equipment, technology and know-how of Britain and its partners that it can never be threatened in the same way again. In the meantime, Johnson said, “there is a huge amount to do to make sure that Ukraine is successful, that Ukraine wins and that Putin must fail.”
IMF creates account to allow donor countries to funnel money to Ukraine
BOSTON -- The International Monetary Fund has created an account to give donor countries a secure way to funnel financial assistance directly to war-ravaged Ukraine.
The multilateral lender said in a statement Friday that it’s launching the account at the request of several member countries.
The goal is to help Ukraine meet its payment obligations and help stabilize its economy using loans or grants from pooled resources.
The IMF says Canada has proposed routing up to 1 billion Canadian dollars ($795 million) to Ukraine through the new account.
Two weeks after Russia’s Feb. 24 invasion of Ukraine, the IMF approved a $1.4 billion emergency loan to Ukraine.
S&P Global Ratings downgrades assessment of Russia’s ability to repay foreign debt
BOSTON -- S&P Global Ratings has downgraded its assessment of Russia’s ability to repay foreign debt, signaling increased prospects that Moscow will soon default on such loans for the first time in more than a century.
The credit ratings agency issued the downgrade to “selective default” Friday night after Russia arranged to make foreign bond payments in rubles last week when they were due in dollars. It said it didn’t expect Russia to be able to convert the rubles into dollars within a 30-day grace period.
S&P said it believes sanctions on Russia over its invasion of Ukraine are likely to increase, impeding its willingness and ability to honor its obligations to foreign debtholders.
The Kremlin has signaled it’s willing to pay its debts but warned it would do so in rubles if its overseas accounts in foreign currencies remain frozen.
Zelenskyy says 'Ukrainian courage deserves respect'
Ukrainian president Volodymyr Zelenskyy gave a powerful message Saturday, reminding the country of its strength for not cowering to Russia's attacks.
"Forty-five days of a full-scale war and defense against Russia’s attack. The attack by the largest country in the world, the largest by its territory, the largest by its aggressions. The largest by its impunity," he said in a Telegram video.
"Russia literally failed to account for one fact. The fact that it attacks the other largest country in the world — Ukraine. The largest by its courage. We are not afraid of massive missile strikes. Ukrainian courage has inflicted heavy losses on the Russian army, which has already lost more of its soldiers during the previous decades of regular wars."
Zelenskyy said Ukraine's courage has united the democratic world and will "always be remembered in history."
The president ended his speech by calling on world leaders to continue to stand by Ukraine.
"Ukrainian courage deserves respect," he said. "Convince your politicians. Stay with Ukraine. Stay with freedom. Stay with bravery. "
