PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » Energy » U.S. In ‘Active Discussions’ To Ban Russian Oil, Blinken Says

U.S. In ‘Active Discussions’ To Ban Russian Oil, Blinken Says

by PublicWire
March 6, 2022
in Energy
Reading Time: 4 mins read
0

Topline

Secretary of State Antony Blinken said Sunday the U.S. is discussing an import ban of Russian oil, which would be the latest and among the most significant U.S. actions to cut off Russia’s economy in response to its invasion of Ukraine, representing a significant break from the White House’s early hesitation on a ban.

Key Facts

Blinken said the U.S. is in “very active discussions with our European partners” to implement a Russian oil ban during a Sunday morning appearance on NBC’s Meet the Press.

Blinken echoed that sentiment on CNN’s State of the Union, saying he discussed the matter on a Saturday phone call with President Joe Biden and other members of the cabinet.

Petroleum is Russia’s primary export, and Russia accounted for 3.5% of all U.S. oil imports in 2021.

Key Background

The White House had long resisted a Russian oil ban, saying its priorities were to lower prices and steady the energy supply, but Biden said Wednesday a ban on oil imports remained on the table. An oil ban received broad bipartisan support last week, with the likes of Rep. Nancy Pelosi (D-Calif.) and Sens. Joe Manchin (D-W.V.) and Lisa Murkowski (R-Alaska) calling for the measure. Ryan Fitzmaurice, an energy analyst at Rabobank, told CNN Friday a ban would be “largely symbolic” and not significantly impact the American oil supply. Last week, the U.S. committed to release 30 million barrels of oil from its strategic reserves, and American allies in Asia and Europe said they will release 30 million barrels in a coordinated effort to combat supply issues stemming from the war in Ukraine.

Crucial Quote

Linda Thomas-Greenfield, the U.S. ambassador to the United Nations, told ABC News she supports the oil ban, saying “this notion that somehow banning Russian oil would raise prices on American consumers is an admission that this guy, that this killer, that this butcher, [Russian President]

Big Number

80%. That’s the proportion of Americans that support the U.S. stopping purchases of Russian oil, according to a Reuters/Ipsos poll conducted Thursday and Friday.

Tangent

Blinken told CNN he sees evidence of Russia committing war crimes in Ukraine, saying there are “very credible reports of deliberate attacks on civilians, which would constitute a war crime.” The United Nations is investigating Russia’s alleged human rights violations.

Further Reading

Live: Russia Plans To Bombard Odessa, Zelensky Says (Forbes)

​​The push to ban Russian oil is gaining steam. Here’s what that means for US energy prices (CNN)


This post was originally published on this site

Tags: Breakingbreaking-newsbusinesseducationEnergy
Previous Post

Energy Security, Prices Take Priority Over Climate Concerns In Crisis

Next Post

US officials hold Venezuela meetings amid hunt for alternative oil supplies

PublicWire

At PublicWire, we know the vast majority of all investors conduct their due diligence and get their news online in a variety of ways including email, social media, financial websites, text messages, RSS feeds and audio/video podcasts. PublicWire’s financial communications program is uniquely positioned to reach these investors throughout the U.S. and Canada as well as on a global scale.

Related Posts

Energy

Finally Some Good News On Energy: Steve Forbes Praises Major Liz Truss Reform

September 15, 2022
0
Energy

How The Inflation Reduction Act Could Cause A Lithium Crunch

September 15, 2022
0
Energy

Texas Is Primed To Be Our Nation’s Direct Air Capture Hub

September 15, 2022
0
Energy

How Sanctions And Policies Ensure The Energy Crisis Will Only Worsen From Here

September 13, 2022
0
Energy

Research Shows That Renewable Jobs Can Replace Those From Coal

September 13, 2022
0
Energy

Dow Jumps 200 Points As Investors Brace For August Inflation Report And More Fed Rate Hikes

September 13, 2022
0
Next Post

US officials hold Venezuela meetings amid hunt for alternative oil supplies

Please login to join discussion

Subscribe To Our Newsletter

Loading
Ad
PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2022 publicwire.com

Navigate Site

  • About
  • Contact Us
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • Videos

© Copyright 2022 publicwire.com

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.