Discounted Russian crude could be bought by the US to mitigate the gas price hike The US may try to buy some cheap Russian oil after the
Discounted Russian crude could be bought by the US to mitigate the gas price hike
The US may try to buy some cheap Russian oil after the European oil embargo drives the price down, US President Joe Biden indicated on Wednesday. He aired the idea while talking to media about his administration’s plan to deal with the shortage of baby formula and surging prices for basic commodities such as food and gas. Biden took credit for keeping US gas prices, currently at all-time highs, from going even higher. He blamed Russia and its military campaign in Ukraine for driving food and energy prices up and said his administration was working hard to deal with the problems.
«The issue that is occurring now is you have Europe deciding that they’re going to further curtail the purchase of Russian oil», he said, referring to the sixth package of anti-Russian sanctions. EU members reached an agreement several days ago partially banning imports of Russian crude.
