WASHINGTON, United States — The
US and
Britain announced Tuesday they are cutting off imports of Russian oil, in the
most far-reaching action yet by Western allies to punish Moscow for invading
Ukraine.
اضافة اعلان
President Joe Biden announced the US embargo, part
of a broader prohibition including
Russian natural gas and coal, with US
Democrats threatening legislation to force his hand, despite the likely impact
on already soaring gas prices.
“Russian oil will no longer be acceptable at US
ports and the American people will deal another powerful blow to (President
Vladimir) Putin’s war machine,” Biden said, adding that the decision was taken
“in close consultation” with allies.
“Ukraine will never be a victory for Putin,” Biden
vowed from the White House, minutes after Britain announced that Europe’s
second-largest economy would phase out Russian oil imports by the end of the
year.
“Putin may be able to take a city, but he will never
be able to hold the country.”
The US ban has support from both parties in
Washington, although economists have been divided on the effect of turning off
the spigot, with oil prices already soaring above $120 a barrel.
Brent crude, the international benchmark, rose by
more than 5 percent on Tuesday on news of Biden’s imminent announcement.
US Speaker
Nancy Pelosi told members on Sunday the
House was exploring the ban, as well as ending trade relations with Russia and
Belarus and pushing to curtail Moscow’s access to the World Trade Organization.
But Biden — initially reluctant but wary of
appearing less tough than Congress on Putin — intervened personally, according
to several US media outlets, phoning Pelosi to ask her to drop the initiative.
Pelosi said in a letter to colleagues released after
Biden’s address that House Democrats would press ahead with a vote on the ban
and other measures targeting the
Russian economy before the end of the day.
‘Dramatic increases’
Secretary of State
Antony Blinken revealed on Sunday that the
administration and its allies were already in talks about whether to implement
a ban.
“We are now in
very active discussions with our European partners about banning the import of
Russian oil to our countries while of course, at the same time, maintaining a
steady global supply of oil,” he told NBC.
But EU nations,
who are far more reliant on Russian energy than the US, have declined to take
similar action.
Russia accounts
for eight percent of US imports of oil and petroleum products, which means the
impact on the world’s largest economy would be easier to bear.
The White House
will nevertheless have to reassure voters already alarmed over spiraling
gasoline prices, which are threatening
Democrats’ chances of holding on to
Congress in November’s midterm elections.
Americans are
now paying an average of $4.17 per gallon, a 72 cent increase in just one month
and the highest price at the pump since the global economic downturn of 2008.
“Bottom line is
that the USA would feel some impact to the loss of supplies from Russia, but we
are in a far better position than Europe,” energy analyst Andy Lipow said.
US officials,
seeking to offset the loss of Russian oil, reportedly traveled to Venezuela
over the weekend to meet with the government of Nicolas Maduro.
The South
American country was once a top source of
US oil, but Washington halted imports
in 2019 following sanctions on the country.
Congressional
Democrats have pushed back on the idea, however, voicing reluctance to switch
from one unsavory regime to another.
“We shouldn’t be
advancing other countries who don’t share our values,” Montana Senator Jon
Tester told reporters.
In a Quinnipiac
poll released before the
White House announcement, 71 percent of respondents
said they would support a ban on Russian oil even if it meant higher gas
prices.
“The next step
needs to be to work to get Europe to do the same thing, to wean themselves from
Russian oil and gas,” Republican Senator Ted Cruz, who recently introduced a
bill to “restore American energy independence,” told CNBC.
“And the way to
do that is to have alternative sources, and the obvious alternative source is
the United States.”
The British oil sanction does not apply to Russian natural
gas, which accounts for some four percent of
UK supply. But Business Secretary
Kwasi Kwarteng said he was “exploring options to end this altogether”.
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