President Joe Biden announced March 8 that the U.S. will not be buying or using any gas or energy from Russia, increasing the response to Russia’s invasion of Ukraine, CNBC said.
An executive order was signed by Biden to ban the import of Russian oil, liquefied natural gas and coal to the U.S., a senior administration official said.
“We’re banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another powerful blow to Putin’s war machine,” President Biden said. “This is a step we’re taking to inflict further pain on Putin."
This is a move to continue severing Russia from the global economy, in turn, punishing Putin, he said. New U.S. investment in Russia’s energy sector also was banned.
The U.S. is less dependent on Russian oil than other countries, only bringing in around 8 percent of the oil it used in 2021 from Russia, while larger U.S. oil suppliers are Mexico, Canada and Saudi Arabia, CNBC reported.
