Russia continues its attack on Ukraine. Now the Western countries want to leverage oil. And that despite the fact that the prices were already climbing higher and higher.
According to Secretary of State Antony Blinken, the US government is consulting with its European allies about a possible ban on imports of oil from Russia. “We are now speaking with our European partners and allies to examine in a coordinated manner the prospect of a ban on Russian oil imports,” Blinken told CNN on Sunday. The debate is also about “ensuring that there continues to be an adequate supply of oil on world markets. It is a very active discussion as we speak.” Blinken joined the CNN program during his visit to Moldova.
High petrol prices are a concern
Because of Russia’s war of aggression in Ukraine, pressure is mounting on the US government to add a ban on Russian oil imports to the punitive measures already in place. US President Joe Biden has not explicitly ruled that out. However, the US government is concerned about the already high gasoline prices. At the end of last year, according to the US authorities, Russia was the fourth most important country for imports of crude oil and petroleum products – behind Canada, Mexico and Saudi Arabia. Imports from Russia accounted for almost 5 percent of all US imports in this category.
Source: Stern
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