U.s. Expected To Announce Ban On Russian Oil As Soon As Today

  • Posted on March 08, 2022
  • News
  • By FC Team
  • 781 Views

The U.S. is expected to announce as early as Tuesday that it will ban imports of Russian oil, a person familiar with the matter told CNBC.The White House and the Department of Energy did not immediately respond to requests for comment. But the White House on Tuesday morning updated President Joe Biden’s schedule for the day to include an announcement of new U.S. actions intended to “hold Russia accountable for its unprovoked and unjustified war on Ukraine.”Biden will deliver those remarks from the White House at 10:45 a.m. ET, the updated schedule said.The U.S. imports about 672,000 barrels a day in 2021, according to figures from the Energy Information Administration. That amount comprises roughly 8% of the total U.S. import of oil and refined products.Most of the country’s crude oil and petroleum imports come from Canada, Mexico and Saudi Arabia, making the U.S. far less dependent on Russian oil than many of its European partners.Oil prices on Tuesday morning soared to session highs. WTI crude oil rose about 4% to near $124 a barrel, while Brent crude oil, the international benchmark, jumped 4% to above $128 a barrel.cnbc.com

Author
No Image
manager

FC Team

No description...

You May Also Like