US imposes a US ban on Russian oil & other energy exports

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[Picture: EPA]

US President Joe Biden has announced a US ban on Russian oil, and other energy imports. In a televised broadcast, Biden said this step was taken to inflict further pain on Russian President Vladimir Putin.

It comes as the West continues to slap Moscow with sanctions in a bid to cripple its economy as tensions between Russia and Ukraine continue to boil.

“I understood that many of the US’s allies won’t be able to take similar action due to its reliance on Russian oil,” said Biden.

Meanwhile, Russian deputy prime minister Alexander Novak has warned the European Union (EU) not to impose sanctions on oil imports, else it will ban its oil supplies to Europe. He adds that a rejection of Russian oil would lead to catastrophic consequences for the global market.

Despite the West slapping Russia with sanctions from every corner, Europe has been cautious about extending the sanctions to oil and gas over its vulnerability to a loss of energy supplies.

Russia supplies about 40 percent of Europe’s gas.

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May 17, 2022
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