As bullets continue to rain down on Ukraine and citizens of Russia feel the economic pain of a war they didn’t choose, the oil and gas cronies who prop up Vladimir Putin’s regime are still raking in cash from banks. 

Igor Sechin, Head of Russian oil and gas giant Rosneft, still has access to unimaginable sums of money through the bond market. Despite being one of Putin's closest cronies, he's still able to access billions of dollars, with the support of Barclays, Deutsche Bank and others that helped him raise funds through the bond market. 

As long as investment banks keep the money pipeline flowing through bonds, Putin has access to money to fund his brutal war on the Ukrainian people and democracy.

Rosneft paid enough taxes in 2020 to effectively pay for 40% of Russia’s military that year. As Putin ramps up his war, it’s clear that the struggle for peace is also the struggle for climate justice. 

Investment giant BlackRock has already committed to stop investing in Russian stock; other investors are following suit. But it’s no good cutting off Putin’s access to some markets, while leaving open a huge back door through oil and gas bonds.

We can’t stop until all the big players rule out any support for the Russian fossil fuel industry. 

“Anyone who lobbies for maintaining Russian energy supplies to the West must be in the clear: your money is funding the bullets, shells, and missiles that rain upon Ukraine today. The guns will not fall silent while fossil profits keep rolling in” - Vladimir Slivyak, founder of EcoDefense

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