US President Joe Biden on Tuesday, March 8, signed a decree banning energy imports from Russia and new investment in the Russian energy sector. This is reported TASS with a link to the document.
The executive order notes that the president is expanding “the scope of the national emergency” declared by Executive Order 14024, dated April 15, 2021.
Banned from being imported into the US crude oil, oil products, petroleum fuel And oilsas well as products of their distillation, liquefied natural gas, coal And coal products.
US goals
Joe Biden announced the decision to ban energy imports from Russia earlier on Tuesday. He also warned that gasoline prices in the country will continue to rise due to restrictions imposed on Russia.
Today, I am announcing that the United States has targeted the main artery of the Russian economy. We are imposing a ban on all imports of Russian oil, gas and energy. This is a move that has strong bipartisan support in Congress and, I believe, in the country. Americans rallied to support the Ukrainian people
According to him, the US made this decision after close consultations with allies and partners around the world, especially in Europe. At the same time, the American side understands that European countries will not be able to join the import ban.
According to the President of the United States, the authorities urge the private sector not to inflate prices and will fight speculators.
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When will the import end?
On the eve of the US Treasury announced the date of completion of transactions for the import of oil, petroleum products and coal from Russia. This is reported TASS with reference to a special general license.
It follows from the document that transactions necessary for import into the United States, which are made in the usual manner in accordance with written contracts or written agreements concluded before March 8, 2022, are resolved until 00:01 east coast time April 22, 2022but.
Exemption from sanctions
At the same time, according to Reuters, the US ban on Russian energy imports does not apply to uranium. This is reported RIA News.
The publication notes that there is currently no production or processing of uranium in the United States, which is why representatives of the energy industry insist that the White House does not prohibit the import of uranium from Russia, despite the special operation in Ukraine.
The US energy industry is dependent on Russia and its allies Kazakhstan and Uzbekistan for about half of the uranium used in US nuclear power plants.
Reuters also notes that the document published by the White House on the ban on Russian energy carriers does not mention uranium, which, according to the publication, confirms the information of their source.
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The reaction of the embassy in Washington
Russia’s ambassador to Washington, Anatoly Antonov, said that phasing out energy from Russia would lead to significant fluctuations in world markets, as well as negatively affect the interests of companies and consumers, primarily in the United States.
The goal is to demonstrate a willingness to sacrifice one’s own interests in order to “hit” our country harder. The fact that restrictions are always a double-edged weapon in the United States, as usual, is not thought about. Ordinary Americans Face Rising Gasoline, Electricity, and Heating Prices, More Hit with New Sanctions
In addition, it is argued that “US sanctions pressure on Russia has long crossed all boundaries of political and economic sense.”
Consequences of abandoning Russian oil
Amid reports of a ban on the import of Russian oil into the US, gasoline prices have overcome an all-time high, reaching $4.17 per gallon. On Tuesday, March 8, reports TASS with reference to the automobile association.
Earlier, Russian Deputy Prime Minister Alexander Novak warned of the catastrophic consequences of abandoning Russian oil for the world market. His words convey RIA News.
It is absolutely obvious that the rejection of Russian oil will lead to catastrophic consequences for the world market. The surge in prices will be unpredictable – more than $ 300 per barrel, if not more
According to Novak, such a move will cause a surge in fuel prices on the world market. At the same time, it is impossible to quickly replace Russian oil in the European market. This will take more than one year, and consumers in Europe will have to pay for it, Novak emphasized.
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