The United States may announce a ban on Russian oil imports today – the media
The United States may announce a ban on Russian oil today, March 8. Oil prices jumped to highs due to such reports, according to CNBC, Ukraine , Ukrainegate , 9 , March , 2022 | Ukraine News
Quote
“It is expected that the United States will announce on Tuesday that it will ban the import of Russian oil, NBC News reports, citing two sources familiar with the issue,” the channel said.
Details
The White House and the US Department of Energy did not immediately respond to CNBC’s comments. But the White House on Tuesday morning updated the schedule of US President Joe Biden for the day, including announcements of new US actions aimed at “bringing Russia to justice for its unprovoked and unjustified war against Ukraine.”
Biden will announce a statement from the White House at 5:45 p.m. Kyiv time, according to an updated schedule.
According to an earlier report by Bloomberg News, the United States should ban Russian oil, liquefied natural gas (LNG) and coal – without the participation of Europe on Tuesday.
Oil prices, meanwhile, jumped on Sunday to the level last seen in 2008.
West Texas Intermediate oil futures, the benchmark for US oil, traded up to $ 132.07. Brent’s international oil standard reached $ 139.13. But both were well below those highs on Monday’s trading session.
On Tuesday, WTI rose 2.9% to 122.76 dollars per barrel, and Brent rose 3.5% to 127.40 dollars.
Then WTI oil jumped about 4% to almost $ 124 per barrel.
Experts expect oil prices – and therefore gas station prices – to remain high.
Addition
So far, Western sanctions have focused on hitting Russia’s financial institutions, but possible energy sanctions have been left on the table as an option.
In addition, the market is already showing “self-sanctions” as buyers avoid Russian oil.
Source: Ukrgate
