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Joe Biden bans Russian oil imports

Shortly after Biden’s announcement, Britain announced it will phase out Russian oil imports by the end of the year

Joe Biden bans Russian oil imports

Source: Twitter @WhiteHouse

Washington, March 9 - Neftegaz.RU. US President Joe Biden was under pressure from both Democrats and Republicans to go forward with a ban, on March 8 he has announced a US ban on Russian oil, natural gas and coal imports.
The US made the move unilaterally, without its European allies.

Biden said at the White House:
  • I am announcing the United States is targeting the main artery of Russia's economy
  • We're banning all imports of Russian oil & gas and energy
  • This is a step that we’re taking to inflict further pain on Putin
  • But there will be costs as well here in the United States
In 2021, the United States imported about 700,000 barrels per day of crude oil and petroleum from Russia, according to the White House.
The Europeans imported about 4.5 million barrels per day of oil.

A senior Biden administration official said:
  • The U.S. will give companies 45 days to wind down existing contracts for Russian energy supplies
US imports from Russia make up a small slice of American energy portfolio -- roughly 8% in 2021, of which only about 3% was crude oil.
79% of Americans said they favored a ban on Russian oil imports even if the prohibition increased energy prices in the U.S, according to data from a new Wall Street Journal poll.

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