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The Biden administration is keen to maneuver forward with a ban on Russian oil imports into the US with out the participation of allies in Europe, two folks conversant in the matter informed Reuters, after Russia’s invasion of Ukraine.
President Joe Biden is anticipated to carry a video convention name with the leaders of France, Germany and the UK on Monday as his administration continues to hunt their help for a ban on the imports.
The White Home can also be negotiating with congressional leaders who’re engaged on fast-tracking laws banning Russian imports, a transfer that’s forcing the administration to work on an expedited timeline, a supply informed Reuters A senior US official informed Reuters that no ultimate choice has been made however “it’s doubtless simply the US if it occurs.”
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Oil costs have soared to their highest ranges since 2008 as a consequence of delays within the potential return of Iranian crude to world markets and because the US and European allies contemplate banning Russian imports.
Europe depends on Russia for crude oil and pure fuel however has turn into extra open to the thought of banning Russian merchandise. The US depends far much less on Russian crude and merchandise, however a ban would assist drive costs up and pinch US shoppers already seeing historic costs on the fuel pump.
US Home of Representatives Speaker Nancy Pelosi stated in a Sunday letter that her chamber is “exploring” laws to ban the import of Russian oil and that Congress intends to enact this week $10 billion in help for Ukraine in response to Moscow’s army invasion of its neighbor.
A bipartisan group of US senators launched a invoice on Thursday to ban US imports of Russian oil. The invoice is getting fast-tracked.
After Russia invaded Ukraine, the White Home slapped sanctions on exports of applied sciences to Russia’s refineries and the Nord Stream 2 fuel pipeline, which has by no means launched.
To date, it has stopped wanting concentrating on Russia’s oil and fuel exports because the Biden administration weighs the impacts on world oil markets and US vitality costs.
Requested if the US has dominated out banning Russian oil imports unilaterally, US Secretary of State Anthony Blinken on Sunday stated: “I am not going to rule out taking motion a technique or one other, regardless of what they do, however every thing we have completed, the method begins with coordinating with allies and companions,” Blinken stated.
On the similar time, the White Home didn’t deny that Biden would possibly make a visit to Saudi Arabia because the US seeks to get Riyadh to extend vitality manufacturing. Axios reported that such a visit was a chance.
“That is untimely hypothesis and no journey is deliberate,” a White Home official stated.
Learn extra:
Oil hits 2008 highs to $139 on talks about Russia oil ban, Iran deal delay
Fears about sanctions on Russia push European fuel costs to document highs
US, Europe mulling bans on Russian oil imports, Blinken says
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