Wednesday, April 24, 2024
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Home » US House Speaker Calls for Ban on Russian oil Imports

US House Speaker Calls for Ban on Russian oil Imports

by Eli Barker
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US House of Representatives Speaker Nancy Pelosi urged a ban Thursday on Russian oil imports. 

“I’m all for that. Ban it,” Pelosi told reporters during a news conference as she has become the highest American official to support the move.

US President Joe Biden said earlier this week a ban is on the table but Washington and its allies have not moved forward with that option because of record energy prices, high inflation and Europe’s overdependence on Russian oil and natural gas.

Europe buys around 40% of its natural gas from Russia, while the US wants to partially replace those sales with its vast shale gas resources via liquefied natural gas (LNG) exports.

US senators Lisa Murkowski, from Alaska, and Joe Manchin, from West Virginia, have proposed legislation to ban Russian oil imports.

Murkowski, in a letter to Biden on Wednesday, called for him to expedite the approval of LNG exports to the US’ NATO allies, blunt Russia and China’s energy-fueled ambitions and restore America’s dominant role in global energy.

The letter was signed by all 11 Republican members of the Senate Committee on Energy and Natural Resources.

International oil benchmark Brent crude price soared to $119.78 Thursday — its highest since May 2, 2012.

US West Texas Intermediate (WTI) jumped to $116.50, marking its highest level since Sept. 2, 2008.

Source : aa

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