new Delhi: With global oil prices rising above $140 a barrel over the Russia-Ukraine conflict, the US clarified that no decision has been taken by the Biden administration regarding a ban on oil imports from Russia.
Since Russia’s invasion of Ukraine began last month, the US and other Western countries have imposed a number of sanctions against Russia. However, the West has held back from taking any action against Russian energy imports for fear of how the energy gap will affect global energy supplies.
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US on oil import ban
White House Press Secretary Jen Psaki said: “No decision has been taken by the President at this time regarding a ban on oil imports from Russia, and those discussions are being discussed internally and with our counterparts and partners in Europe and around the world.” Continuing together.” According to news agency ANI a press briefing.
He added that US President Joe Biden is focusing on Putin to ensure economic results while taking necessary action to limit the impact on prices.
“And as you noted, yes, it is true that clearly the invasion has had an effect on the level of imports of the United States into other parts of the world,” the press secretary said.
However, the leader stressed that the US will produce more oil next year than ever before.
“The US produced more oil last year than it did in President Trump’s first year. Next year, according to the Department of Energy, we will produce more oil than ever before,” she said.
Earlier, US Secretary of State Antony Blinken said the US was looking at a possible sanctions “in a coordinated manner” with European allies.
Germany on oil embargo
German Chancellor Olaf Scholz warned on Monday against imposing sanctions on Russian oil and gas under Western sanctions because doing so could put Europe’s energy security at risk.
“Europe intentionally exempted energy supplies from Russia from sanctions,” Scholz said in a statement, according to AFP.
“Supplying Europe with energy for heat generation, mobility, power supply and industry cannot be secured in any other way at the moment. It is therefore of essential importance to the provision of public services and to the daily lives of our citizens.”
Russia on oil embargo
In response to concerns over sanctions against Russian oil imports, Western countries could face oil prices exceeding $300 a barrel and a possible closure of the main Russia-Germany gas pipeline, a The senior minister said on Monday, according to Reuters.
“It is absolutely clear that the rejection of Russian oil will have disastrous consequences for the global market,” Russian Deputy Prime Minister Alexander Novak said in a statement on state television.
“The jump in prices will be unpredictable. It will be $300 a barrel, if not more.” Nowak said it would take Europe more than a year to replace the amount of oil it receives from Russia and would have to pay a very high price.
(with inputs from agencies)