September 30, 2022

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US bans Russia’s oil imports

Several media outlets reported on Tuesday that President Joe Biden would announce a ban on Russian oil imports into the United States on Tuesday in response to pressure from US-elected officials to invade Ukraine.

The White House said on Tuesday that the head of state would speak at 10:45 a.m. to announce “measures aimed at allowing Russia to wage an unjust and unprovoked war” against Ukraine.

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Joe Biden stands apart from his European counterparts, who have so far refused the ban. Europe as a whole depends on Russian supplies, which account for 40% of its natural gas needs and 30% for oil.

On the other hand, in 2021 only 8% of US imports of crude oil and petroleum products came from Russia. In addition, the United States does not import Russian gas.

Joe Biden, who was initially reluctant to consider an idea of ​​an embargo that would further accelerate inflation in the United States, was under pressure from Congress to reach a consensus on Monday.

“This is the right decision. The next step is to work with Europe to do the same, and to exclude Russian oil and gas,” Texas Dead Cruise Republican senator CNBC commented.

Mr. According to Cruz, the embargo was “a way to put Putin (Russian President Vladimir Putin) in a vulnerable position. (…) All its revenue comes from the sale of oil and gas. If you take it, stop the war in Europe.”

“We are going to see a rise in fuel prices here in the United States,” CNN, a Democratic senator from Delaware, warned CNN, adding, “in Europe they are going to see a dramatic increase in the price of defending independence and supporting the Ukrainian people.”

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