The United States will ban the import of oil, natural gas and coal from Russia, President Joe Biden announced on Tuesday. The move is yet another attempt to impact the Russian economy due to the war in Ukraine.
“Today, I am announcing that the United States is targeting the main artery of Russia’s economy. We are banning all imports of Russian oil, gas and energy,” the president said during his speech at the White House.
“This means that Russian oil will no longer be acceptable in US ports and the American people will deliver another powerful blow to Putin’s war machine,” he added.
Biden said the decision was taken after consulting allies, such as European Union countries, and he understands that this move could increase fuel prices around the world, including in the US.
“We understand that Putin’s war is causing damage and driving up prices, but that is no excuse for companies to exploit American consumers. This is not the time to make a profit on the situation”, he pointed out, adding that companies that “are leaving Russia are setting an example for others”.
White House economic officials have been involved for more than a week in how to manage the cut of these imports. The Department of Energy reported that in the last two weeks of February Russian oil imports dropped to zero as US companies cut ties with Russia, effectively implementing their own ban.
Encouraging investment in sustainable energy, Biden said he wanted “no one to worry about the price of clean energy, so that leaders like Putin don’t use oil as a form of political manipulation.”
US imports from Russia represent a tiny slice of the energy universe – around 8% in 2021, of which only around 3% was crude oil.
These efforts have become more intense in recent days, as it was almost certain that the US would impose a ban this week.
Russia has warned that the price of a barrel of oil could rise to $300 if the West sanctions this product. With the war, the value of this product exceeded $100 for the first time since 2014.
Meanwhile, the European Union plans to reduce Russian gas imports by two thirds this year, aiming to eliminate dependence by 2030. As for oil, the measure is still not taken for granted in the European bloc, as several countries depend more on the product. Russian when compared to the United States.
Commenting on the conflict in Ukraine, Biden said that Ukrainians are an example to the world and that the country “will never be a victory for Putin”.
understand the conflict
After months of military escalation and intemperance on the Ukrainian border, Russia attacked the Eastern European country. At dawn this Thursday (24), Russian forces began to bomb several regions of the country – follow the repercussion live on CNN.
Hours earlier, Russian President Vladimir Putin authorized a “special military operation” in the Donbas region (eastern Ukraine, where the breakaway regions of Luhansk and Donetsk are located, which he recognized as independent).
What followed, however, was an attack on almost the entire Ukrainian territory, with explosions in several cities, including the capital Kiev. According to Ukrainian officials, dozens of deaths have been confirmed in the armies of both countries.
Russia has been tightening its military grip around Ukraine for the past year, amassing tens of thousands of troops, equipment and artillery at the country’s gates. In recent weeks, diplomatic efforts to defuse tensions have been unsuccessful.
The escalation in the years-long conflict between Russia and Ukraine has set off the continent’s biggest security crisis since the Cold War, raising the specter of a dangerous confrontation between Western powers and Moscow.
Source: CNN Brasil
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