U.S. President Joe Biden has decided to ban imports of Russian oil, increasing the burden on the Russian economy in response to Moscow's invasion of Ukraine. The decision followed a vote by the U.S. House of Representatives on Tuesday to pass a bill legalizing the ban on energy imports from Russia, marking a new escalation in U.S. sanctions against Moscow following the country's declaration of war on Ukraine.
This move comes after appeals from Ukrainian President Volodymyr Zelensky to U.S. and Western officials to cut imports, which represented a glaring oversight of the extensive sanctions imposed on Russia due to the invasion. U.S. sources indicated that the ban on Russian oil would also include coal and liquefied natural gas.
Energy exports had maintained a steady flow of cash to Russia despite severe restrictions placed on its financial sector. The White House stated that Biden planned to speak on Tuesday morning to announce "actions to continue holding Russia accountable for its unjustified war, which was not provoked by Ukraine."
The United States is acting independently in this regard but in close consultation with European allies, who depend more heavily on Russian energy supplies. Europe is highly reliant on Russia for crude oil and natural gas but has become more receptive to the idea of banning Russian products. Meanwhile, the United States relies much less on crude and petroleum products from Russia; however, implementing a ban could contribute to further price increases and harm American consumers already facing historically high fuel prices.
