U.S. President Biden will unilaterally impose a ban on importing Russian oil Tuesday in an effort to ramp up the economic pressure on Russian President Vladimir Putin for invading Ukraine, a person familiar with the issue told The Washington Times.
The embargo, which is expected to cause already record-high gasoline prices to soar even higher, will come in the wake of mounting bipartisan pressure on Capitol Hill that forced the White House to reverse its position on the ban over concerns about increased costs.
The White House declined to comment.
Updated press guidance stated that Mr. Biden “will announce actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine” Tuesday morning.
The move follows pleas by Ukrainian President Volodymyr Zelenskyy to U.S. and Western officials to cut off the imports, which had been a glaring omission in the massive sanctions put in place on Russia over the invasion.
Energy exports have kept a steady influx of cash flowing to Russia despite otherwise severe restrictions on its financial sector.
Read more at Washington Times
OK, so we won’t import 670,00 barrels a day from Russia. You can bet the EU won’t cut their Russian supply of oil & gas because they have NO other viable options at the moment to keep their lights on & heat their homes. I’d imagine China is waiting in the wings to pick up any “slack” in Russian oil sales. So, I am doubtful this move will do much to hinder Putin’s petro “cash flow.” Mean time, we are PROSTITUTING ourselves with diplomatic missions to Venezuela, Iran & Saudi Arabia. Oh, we will distribute 30 million barrels out of the Strategic Petroleum Reserve. About 1-1/2 days worth of domestic oil consumption. On the domestic front, it will (realistically) take 2-3 years for our oil production to return to pre-pandemic levels, provided numerous regulatory & financial obstacles are “tampered.” Anyone reading this get the same impression I do…The U.S is currently in a WEAKENED position as far as domestic energy security? BAD POLICY leads to bad outcomes…
Let’s not forget that those ordering Biden had him stop much oil drilling BEFORE the Ukraine flare up. Part of the plan to destroy the USA. Whatever the penalty for treason is; there are people above Biden that need that penalty applied to them. Unelected rulers of the USA they are.