Why can’t Biden make the right decision?
As the Ukrainian war rages on, its effects can be felt throughout the world due to the soaring gas prices.
Currently, officials have noted that the Biden administration is considering a potential ban on oil imports from Russia. However, according to reports, “no decision has been made at this time.”
Secretary of State Antony Blinken spoke on Sunday with allies and partners “to look, in a coordinated way, at the prospect of banning the import of Russian oil, while making sure there is still an appropriate supply of oil on world markets.”
This discussion has not yet concluded, according to the official statement the White House maintains that while they are considering a possible ban, such a decision has not yet been made.
Currently, Russia is the third-largest producer of oil in the world, their oil exports make up for about one-third of Europe’s oil imports. In the U.S. however Russian exports only make up around 10% of U.S. imports which means that the effect of a possible ban would be much more limited in the U.S.
“So, we recognize the United States has a different set of capacities and capabilities of mitigating the impact than other allies and partners.” Said that same official in their statement.
Further, they added, “When we say we are engaging with allies and partners on this, it’s about working with a range of countries around the world—both energy producers and those with reserves of oil supply—on addressing the impact of energy price pressures.”
A report on Reuters on Monday noted that while the U.S. may be considering a ban on Russian oil imports, European powers were not considering following along and imposing a similar ban. At the same time, Ukrainian President Volodymyr Zelenskyy called for “boycotts” of Russian oil in an attempt to halt Russia’s continuation of their unprovoked attack on Ukraine.
Zelenskyy said Ukraine is “deciding the future of the continent with our resistance.”