Mike Sommers, CEO of American Petroleum Institute, issued a statement March 8 condemning the Russian invasion of Ukraine and supporting measures taken to divest American dependence on Russian oil.
“We support the U.S. government and our allies in their collective efforts against Russia’s unprovoked invasion of Ukraine, and our industry is prepared to comply with the import ban in response to this aggression," Sommers said. "The industry has already taken significant and meaningful steps to unwind relationships, both with respect to assets in Russia, as well as imports of Russian crude oil and refined products. We share the goal of reducing reliance on foreign energy sources and urge policymakers to advance American energy leadership and expand domestic production to counter Russia’s influence in global energy markets.”
Sommers statement follows a recent announcement from the White House that imports of Russian oil would be banned. The U.S., as well as other countries in the International Energy Agency, released 60 million barrels of reserve oil to alleviate the effects of the ban, as Russia is the world's highest oil exporter.
API represents all portions of America's gas and oil industry, with its 600 members producing, distributing and processing most of the country's energy.