The White House is signaling restraint in imposing a ban on Russian oil as an addition to the list of sanctions meant to punish President Vladimir Putin …
The White House is signaling restraint in imposing a ban on Russian oil as an addition to the list of sanctions meant to punish President Vladimir Putin for his invasion of Ukraine. Several members of Congress from both sides of the aisle have criticized a carve-out in U.S. sanctions exempting gas and oil, saying that it is helping fund Russia ’s war in Ukraine with billions of dollars from Europe, the UK, and the United States. But on March 3, White House press secretary Jen Psaki cautioned against the impact that a ban on Russian gas would have on the already heightened prices Americans are paying at the pump. “Our objective and our focus is making sure that any step we take maximizes the impact on President Putin and minimizes it on the American people. And, anyone who is calling for an end to the carve-out should be clear that would raise prices,” said Psaki. Russia provides 10 percent of the U.S. supply of natural gas and oil, and roughly 40 percent of the European Union’s.
