While some lawmakers in Washington, D.C., are pushing for a ban on imports of Russian oil and petroleum products into the U.S., such a move likely wouldn’t have a huge effect on prices for Americans, according to one analyst.
“A ban on Russian crude and product imports would have a limited impact on prices, given flows of Russian energy to the U.S. are small in terms of total deliveries, and alternative sources could be found,” said Matt Smith, lead oil analyst for the Americas at data firm Kpler, in an email to MarketWatch.The U.S. imported over half a million barrels per day of Russian crude and petroleum products last year, amounting to about 7% of total U.S. imports, according to Smith.
House Speaker Nancy Pelosi on Thursday threw her support behind a Senate bill that aims to ban the import of Russian oil and petroleum products into the U.S., as part of the Western response to Russia’s invasion of Ukraine. Similar legislation has been introduced by Democratic Sen. Ed Markey of Massachusetts. “We cannot stop Putin with Russian gas in our cars,” Markey said in a statement on Tuesday, referring to Russian President President Vladimir Putin.“We don’t have a strategic interest in reducing the global supply of energy,” White House press secretary Jen Psaki told reporters Thursday at a daily briefing. “Less supply raises prices.
U.S. officials have been indicating that Russian energy exports won’t be targeted by sanctions, but analysts have warned that they still could feel hits due to sanctions affecting payment transactions, Russian banks and possibly the insurance that covers Russian oil and gas deliveries.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Russia-Ukraine live updates: Biden announces ban on Russian flights in US airspaceSenior U.S. official reiterates to ABC News that Russia's invasion will likely be devastating for Ukraine. 'Putin is going to put Ukraine in a vice grip,' the official says, adding Vladimir Putin has ratcheted up his determination to carry on.
Weiterlesen »
Russia-Ukraine updates: US to ban Russian carriers from its airspace'UKRAINIAN CHILDREN ... ARE TAKING THE HIT': A Ukrainian journalist makes an emotional plea to British Prime Minister Boris Johnson at a press conference as Russia continues to attack Ukraine.
Weiterlesen »
Russia-Ukraine War: What to know on Day 7 of Russian assaultAs Day 7 of the Russia-Ukraine conflict dawned, Russia continued its attacks on crowded Ukrainian cities and a lengthy convoy of Russian tanks and other vehicles advanced slowly toward the capital of Kyiv.
Weiterlesen »
Russia-Ukraine war: Russian military takes aim at urban areas amid possible talksRussia continued its attacks on crowded Ukrainian cities Wednesday amid the possibility of resumed talks about the war.
Weiterlesen »
Russia-Ukraine War: What to know on Day 7 of Russian assaultRussia resumed its assault on Ukrainian citie s on Wednesday, including the second largest, Kharkiv, where a strike hit the regional police and intelligence headquarters, wounding three people, acc…
Weiterlesen »
Russia-Ukraine War: What to know on Day 7 of Russian assaultRoughly 874,000 people have fled Ukraine amid Russia's invasion. The U.N. refugee agency warned the number could cross the 1 million mark soon. Countless others have taken shelter underground.
Weiterlesen »