The United States may ban the import of Russian oil – Bloomberg

The White House is considering a ban on imports of Russian crude oil to the United States to punish the Kremlin for invading Ukraine.

This was reported by Bloomberg.

According to people familiar with the matter, the US administration and the oil and gas industry are negotiating the impact of the move on American consumers and global supplies.

A White House spokesman said the decision had not yet been made.

According to the US Energy Information Administration, Russian oil accounted for only about 3% of all crude oil supplies to the United States in 2021.

Including other petroleum products, such as crude fuel oil, which can be used to produce gasoline and diesel fuel, Russia accounted for about 8% of oil imports in 2021, although these supplies have been declining in recent months.

The White House estimates that the move will really hurt the Russian economy or that oil will simply go to other markets and raise gasoline prices in the United States.

In 2021, the United States, according to its own data, bought Russian oil for 17 billion dollars (half – directly, half – through third countries). All Russian oil exports for the year amounted to 110 billion dollars.