Ukraine’s key allies have united in a new push to squeeze Russia’s economy, vowing to remove its oil and gas from the global market in an effort to weaken President Vladimir Putin’s ability to sustain the war.
The announcement came after a high-level summit in London hosted by UK Prime Minister Keir Starmer, who declared, “We’re choking off funding for Russia’s war machine.”
The move follows recent sanctions by the UK and the US on Russia’s two biggest oil firms and fresh EU restrictions targeting liquefied natural gas exports.
Ukrainian President Volodymyr Zelensky, who attended the meeting, said increasing pressure on Moscow was the only way to force an end to the fighting.
He has long argued that long-range missiles from Western nations could cripple Russian military operations by striking oil refineries and supply depots inside its territory.
However, US President Donald Trump, after recent talks in Washington, declined to provide Tomahawk missiles, insisting he was not ready to take that step. Putin later warned that any attacks on Russian soil with such weapons would trigger an “overwhelming” response.
During a joint briefing, Starmer said the allies agreed on a coordinated plan to sustain military and economic backing for Kyiv through the rest of the year.
He added that the coalition also aimed to target Russia’s sovereign assets to “unlock billions to help finance Ukraine’s defence,” though details remain unclear.
Meanwhile, EU leaders committed to covering Ukraine’s financial needs over the next two years, but stopped short of using the €140 billion in frozen Russian funds. Danish Prime Minister Mette Frederiksen said she hoped the matter of a “reparations loan” would be settled by Christmas Eve.
The London meeting also emphasized the urgent need to strengthen Ukraine’s air defences amid relentless Russian missile and drone strikes. Zelensky warned that Moscow “wants to make the winter cold a tool of torment,” accusing Russia of trying to break the country’s spirit through energy deprivation.
Despite the firm language from leaders, the summit stopped short of announcing new military hardware or concrete steps to change the situation on the battlefield.
In Ukraine, civilians continue to bear the brunt of the war. Residents in several cities described worsening conditions as Russian attacks damage power stations and water systems.
“The more scary thing is that the Russians started launching guided bombs on our region,” said Yana Kolomiets from Odesa. In Kyiv, Tetiana Dankevych said power blackouts and water shortages have made life “very difficult,” adding, “I don’t have a feeling this war will end soon.”
Also present at the London talks were Dutch Prime Minister Dick Schoof and NATO Secretary General Mark Rutte, while French President Emmanuel Macron and others joined remotely.
The leaders reaffirmed support for a proposal to freeze the current front lines to allow negotiations to begin — an idea that Moscow has rejected, insisting on terms Kyiv calls surrender. Before leaving the UK, Zelensky met King Charles at Windsor, his third meeting with the monarch this year.
