White House signals attention to Russia’s oil ban

The White House has shown restraints on imposing a Russian oil ban, in addition to a list of sanctions intended to punish President Vladimir Putin’s invasion of Ukraine.

Some lawmakers from both sides of the aisle have criticized the separation of US sanctions exempting gas and oil, which has funded Russia’s war in Ukraine for billions of dollars from Europe, Britain, and the United States. He said he was helping to supply.

But on March 3, White House spokesman Jen Psaki warned about the impact of Russia’s gas ban on the already soaring prices Americans are paying for pumps.

“Our purpose and focus is to ensure that every measure we take maximizes the impact on President Putin and minimizes the impact on the American people. And seeks the end of the carve-out. Anyone who has it needs to be clear that it will raise the price, “Pusaki said.

Russia supplies 10% of the US natural gas and oil supply, and about 40% of the European Union’s supply.

Senator Joe Manchin (DW.Va.), Chairman of the Energy and Natural Resources Commission, submitted a bill on March 3 banning the import of Russian crude oil and petroleum products into the United States.

On the same day, Speaker of the House Nancy Pelosi (D-Calif.) Joined the list of parliamentary members expressing their support for Russia’s oil ban. After telling reporters that he didn’t want gas prices to rise any further, Pelosi upheld the ban, saying: Ban oil from Russia. “

“President Biden must stop funding US dollars for Putin’s war machinery by blocking US imports of Russian oil,” said Mike McCall at a meeting of the Foreign Affairs Committee on March 2. (Republican) said. Russian economy. And we should not allow Putin to use the blood of that life to shed blood on Ukraine. “

Crude oil prices have skyrocketed recently, settling at over $ 110 per barrel on March 2. This is at least the highest since 2014. Gas prices continue to rise in the United States, with a national average of over $ 3.72. Thursday gallon.

Manchin, along with several Republicans, called on the United States to increase domestic oil production as a means of stabilizing gas prices, which would go against the Biden administration’s efforts to keep the United States away from natural gas consumption.

“This is all [President Joe Biden’s] On March 3, Mr. Pusaki said, “I think we need to reduce our dependence on oil. Europeans need to do that. We need to do that. Invest more in clean energy and If you invest more in other energy sources, that’s exactly what you need to do to prevent this from happening in the future. “

Biden approved the Ministry of Energy (DOE) on March 1 to release 30 million barrels of oil from the US strategic petroleum reserves. This represents half of the adjusted 60 million barrel emissions from the International Energy Agency (IEA) member countries.

According to an IEA press release, 60 million barrels is equivalent to 4% of the 1.5 billion barrels of emergency stockpiles held by IEA members, or 2 million barrels a day in 30 days. The United States consumes an average of about 20 million barrels per day.

Nick Ciolino


Nick Ciolino covers the White House.