Joe Biden announces a ban on oil imports from Russia to the United States due to the invasion of Ukraine

US President Joe Biden imposed a ban on Russian energy imports on Tuesday.

Includes ban Oil, liquefied natural gas and coalaccording to two people who spoke on condition of anonymity with Bloomberg. The decision was made in consultation with European alliesWhich depends more than the United States on Russian energy, said one of the sources.

Crude oil futures extended gains on the news, and one rose 4% to $124.21 It’s 8:19 a.m. in New York. The prospect of a ban on oil imports is helping push crude to its highest level since 2008.

File photo of Gazprom’s facilities at the Povanenkovo ​​gas field on Russia’s Arctic Yamal Peninsula. Photography: Maxim Shemetov, May 21, 2019

For its part, according to the Politico portal, The UK is also preparing to impose a ban on the purchase of Russian oil. However, the measure will not reach the natural gas trade.

Until now, Russian oil and gas have largely escaped sanctions imposed by the United States and European countries, due to concerns about the economic impact, especially in Europe, which is more dependent on Russian oil and, in particular, on natural gas. Canada announced last month its intention to ban all imports of crude oil from Russia, but the move was largely symbolic: the country has not imported anything since 2019.

On Monday, the White House press secretary, Jin PsakiBiden said he had not yet made a decision on imposing a final ban on Russian oil and gas in response to the invasion of Ukraine.

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The spokeswoman noted that the issue was taken up on Monday in a conversation between Biden and the leaders of Germany, France and the United Kingdom, and highlighted: “We have different capabilities and capabilities.”

Russian oil made up about 3% of total crude shipments that arrived in the United States last year.According to data from the US Energy Information Administration. In general, imports of oil and its derivatives from Russia accounted for about 8% of the total US. US imports of Russian crude fell in 2022 at the slowest annual pace since 2017, according to the intelligence firm Kepler.

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