Zelenskyy warns oil price surge could help Russia's war effort

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Zelenskyy warns oil price surge could help Russia's war effort

2025-06-15 01:08 Last Updated At：01:11

KYIV, Ukraine (AP) — A sharp rise in global oil prices following Israeli strikes on Iran will benefit Russia and bolster its military capabilities in the war in Ukraine, Ukrainian President Volodymyr Zelenskyy said Friday in comments that were under embargo until Saturday afternoon.

Speaking to journalists in Kyiv, Zelenskyy said the surge in oil prices threatens Ukraine’s position on the battlefield, especially because Western allies have not enforced effective price caps on Russian oil exports.

“The strikes led to a sharp increase in the price of oil, which is negative for us,” Zelenskyy said. “The Russians are getting stronger due to greater income from oil exports.”

Global oil prices rose as much as 7% after Israel and Iran exchanged attacks over the past 48 hours, raising concerns that further escalation in the region could disrupt oil exports from the Middle East.

Zelenskyy said he planned to raise the issue in an upcoming conversation with U.S. President Donald Trump.

“In the near future, I will be in contact with the American side, I think with the president, and we will raise this issue,” he said.

Zelenskyy also expressed concern that U.S. military aid could be diverted away from Ukraine toward Israel during renewed tensions in the Middle East.

“We would like aid to Ukraine not to decrease because of this,” he said. “Last time, this was a factor that slowed down aid to Ukraine.”

Ukraine’s military needs have been sidelined by the United States in favor of supporting Israel, Zelenskyy said, citing a shipment of 20,000 interceptor missiles, designed to counter Iran-made Shahed drones, that had been intended for Ukraine but were redirected to Israel.

“And for us it was a blow,” he said. “When you face 300 to 400 drones a day, most are shot down or go off course, but some get through. We were counting on those missiles.”

An air defense system, Barak-8, promised to Ukraine by Israeli President Benjamin Netanyahu was sent to the U.S. for repairs but never delivered to Ukraine, Zelenskyy said.

The Ukrainian president conceded that momentum for the Coalition of the Willing, a group of 31 countries which have pledged to strengthen support for Ukraine against Russian aggression, has slowed because of U.S. ambivalence over providing a backstop.

“This situation has shown that Europe has not yet decided for itself that it will be with Ukraine completely if America is not there,” he said.

The offer of a foreign troop “reassurance force” pledged by the Coalition of the Willing was still on the table “but they need a backstop, as they say, from America,” Zelenskyy said. “This means that suddenly, if something happens, America will be with them and with Ukraine.”

The Ukrainian president also said the presence of foreign contingents in Ukraine would act as a security guarantee and allow Kyiv to make territorial compromises, which is the first time he has articulated a link between the reassurance force and concessions Kyiv is willing to make in negotiations with Russia.

“It is simply that their presence gives us the opportunity to compromise, when we can say that today our state does not have the strength to take our territories within the borders of 1991,” he said.

But Europe and Ukraine are still waiting on strong signals from Trump.

Without crushing U.S. sanctions against Russia, “I will tell you frankly, it will be very difficult for us,” Zelenskyy said, adding that it would then fall on Europe to step up military aid to Ukraine.

In other developments, Russia repatriated more bodies of fallen soldiers in line with an agreement reached during peace talks in Istanbul between Russian and Ukrainian delegations, Russian officials said Saturday, cited by Russian state media. The officials said Ukraine did not return any bodies to Russia on Saturday.

Ukraine’s Coordination Headquarters for the Treatment of Prisoners of War confirmed in a statement that Russia returned 1,200 bodies.

Ukraine and Russia also exchanged another group of ill and severely wounded servicemen on Saturday, officials from both countries said, although the sides did not report the numbers.

Zelenskyy said in a post on X that the Ukrainian servicemen who returned were members of the Armed Forces, the National Guard, the State Border Guard Service, and the State Transport Special Service.

The first round of the staggered exchanges took place on Monday. The agreement to exchange prisoners of war and the bodies of fallen soldiers was the only tangible outcome of the June 2 Istanbul talks.

Russian President Vladimir Putin and Trump held a 50-minute phone call Saturday to discuss both the escalating situation in the Middle East and Ukraine peace talks, Putin's foreign affairs adviser Yuri Ushakov said.

According to Ushakov, Putin told Trump about the implementation of the agreements during peace talks in Istanbul between Russian and Ukrainian delegations, including the exchange of prisoners of war.

“Our president noted that an exchange of prisoners of war is taking place, including seriously wounded and prisoners of war under 25 years of age,” Ushakov said, along with expressing readiness to continue negotiations with the Ukrainians.

Trump, he said, “noted his interest in a speedy end to the Russian-Ukrainian conflict.”

Continuing a renewed battlefield push along eastern and northeastern parts of the more than 1,000-kilometer (over 600-mile) front line, the Russian Defense Ministry claimed Saturday that its troops captured another village in the Donetsk region, Zelenyi Kut. The Ukrainian military had no immediate comment on the Russian claim.

Russia launched 58 drones and decoys at Ukraine overnight into Saturday, according to the Ukrainian air force, which said its air defenses destroyed 23 drones while another 20 were jammed. A 45-year-old man was killed when a Russian drone dropped explosives in the Kherson region on Saturday, Ukraine's Prosecutor General’s Office said.

Russia’s defense ministry said it shot down 66 Ukrainian drones overnight.

Attacks have continued despite discussions of a potential ceasefire in the war. During the June 2 talks in Istanbul, Russian and Ukrainian negotiators traded memorandums containing sharply divergent conditions that both sides see as nonstarters, making a quick deal unlikely.

Follow the AP’s coverage of the war at https://apnews.com/hub/russia-ukraine

Economist says NASCAR owes $364.7M to teams in antitrust case

CHARLOTTE, N.C. (AP) — An economist testified in Michael Jordan's federal federal antitrust trial against NASCAR that the racing series owes a combined $364.7 million in damages to the two teams suing it over a revenue-sharing dispute.

Edward Snyder, a professor of economics who worked in the antitrust division of the Department of Justice and has testified in more than 30 cases, including “Deflategate” involving the NFL's New England Patriots, testified on Monday. He gave three specific reasons NASCAR is a monopoly participating in anticompetitive business practices.

Using a complex formula applied to profits, a reduction in market revenue, and lost revenue to 23XI Racing and Front Row Motorsports from 2021-24, Snyder came up with his amount of damages owed. Snyder applied a 45% of revenue sharing he alleged Formula 1 gives to its teams in his calculations; Snyder found that NASCAR's revenue-sharing model when its charter system began in 2016 gave only 25% to the teams.

The suit is about the 2025 charter agreement, which was presented to teams on a Friday in September 2024 with a same-day deadline to sign the 112-page document. The charter offer came after more than two years of bitter negotiations between NASCAR and its teams, who have called the agreement “a take-it-or-leave-it” ultimatum that they signed with “a gun to their head.”

A charter is similar to the franchise model in other sports, but in NASCAR it guarantees 36 teams spots in the 40-car field, as well as specific revenue.

Jordan and three-time Daytona 500 winner Denny Hamlin for 23XI, along with Front Row Motorsports and owner Bob Jenkins, were the only two teams out of 15 to refuse the new charter agreements.

Snyder's evaluations found NASCAR was in fact violating antitrust laws because the privately owned racing series controls all bargaining because “teams don't have anywhere else to sell their services." Snyder said NASCAR controls “the tracks, the teams and the cars.”

Snyder repeatedly cited exclusivity agreements NASCAR entered into with racetracks after the charter system began. The agreements prevent tracks that host NASCAR from holding events with rival racing series. Prior to the long-term agreements, NASCAR operated on one-year contracts with its host racetracks.

The Florida-based France family founded NASCAR in 1948 and, along with Speedway Motorsports, owns almost all the tracks on the top Cup Series schedule. Snyder's belief is that NASCAR entered into exclusivity agreements with tracks to stave off any threats of a breakaway startup series. In doing so, it eliminated teams' ability to race stock cars anywhere else, forced them to accept revenue-sharing agreements that are below market value, and damaged their overall evaluations.

Snyder did his calculations for both teams based on each having two charters — each purchased a third charter in late 2024 — and found 23XI is owed $215.8 million while Front Row is owed $148.9 million. Based on his calculations, Snyder determined NASCAR shorted 36 chartered teams $1.06 billion from 2021-24.

Snyder noted NASCAR had $2.2 billion in assets, an equity value of $5 billion and an investment-grade credit rating — which Snyder believed positions the France family to be able to pivot and adjust to any threats of a rival series the way the PGA did in response to the LIV Golf league. The PGA, Snyder testified, “got creative” in bringing in new revenue to pay to its golfers to prevent their defections.

Snyder also testified NASCAR had $250 million in annual earnings from 2021-24 and the France family took $400 million in distributions during that period.

NASCAR contends Snyder's estimations are wrong, that the 45% F1 model he used is not correct, and its own two experts “take serious issue” with Snyder's findings. Defense attorney Lawrence Buterman asked Snyder his opinion on NASCAR's upcoming expert witnesses and Snyder said they were two of the best economists in the world.

Snyder testified for almost the entirety of Monday's session — the sixth day of the trial — and will continue on Tuesday. The snail's pace of the trial has agitated U.S. District Judge Kenneth Bell, who heard arguments 30 minutes early Monday morning because he was annoyed that objections had been submitted at 2:55 a.m. and then 6:50 a.m.

He needed an hour to get through the rulings, and testimony resumed 30 minutes behind schedule. When the day concluded, he asked the nine-person jury if they were willing to serve an hour longer each day the rest of the week in an effort to avoid a third full week of trial.

Bell wants plaintiff attorney Jeffrey Kessler to conclude his case by the end of Tuesday, but Kessler told him he still plans to call NASCAR chairman Jim France, NASCAR commissioner Steve Phelps and Hall of Fame team owner Richard Childress, who was the subject of derogatory text messages amongst NASCAR leadership and has said he's considering legal action.

NASCAR has a list of 16 potential witnesses and Bell said he wanted the first one on the stand before Tuesday's session concludes.

AP auto racing: https://apnews.com/hub/auto-racing