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BREAKING
Yemeni Ministry of Health: The Zionist aggression on the ports of Hodeidah and Salif in western Yemen has killed one and injured 11
Yemenia Airways flights to and from Sanaa International Airport resumed, following the return of 134 passengers from Queen Alia Airport in Jordan
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Pezeshkian: The Zionist entity has killed more than 60,000 people in Gaza, is preventing water, food, and medicine from reaching the people, and yet it speaks of human dignity
Iranian President Masoud Pezeshkian: The United States and the Zionist entity are sending contradictory messages to the world in the name of peace
Pezeshkian: Trump talks about peace on the one hand, while threatening war on the other, and he talks about human rights, yet he supports an entity that has killed 60,000 people in Gaza
Iranian President Masoud Pezeshkian: We will not give up our rights under threat, and we will not relinquish the achievements we have made on various levels
Al Mayadeen's correspondent in southern Lebanon: An Israeli drone targeted a vehicle on the Abu al-Aswad road in the Tyre area
Russian Defense Ministry website: The condition for an immediate ceasefire is the withdrawal of Ukrainian forces from all five regions claimed by Russia
Russian Defense Ministry website: One of the conditions stipulates that Ukraine should accept Russia's constitutional demands in Donetsk, Lugansk, Kherson, Zaporizhzhia, and Crimea

Biden to announce sanctions on Russian oil exports

  • By Al Mayadeen Net
  • Source: Agencies
  • 8 Mar 2022 19:27
  • 2 Shares
3 Min Read

The US desperately looks for alternatives from Saudi Arabia and Venezuela while taking a drastic decision in parallel with no clear fate.

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  • Biden to announce sanctions on Russian oil exports
    Biden to announce sanctions on Russian oil exports

US President Joe Biden will be announcing that the US will ban all Russian oil, natural gas, and coal imports as a response to the Russian operation of Ukraine, according to a source close with the matter.

Congress and Ukraine have been pressuring Biden to sanction Russia's most paramount industrial sector, but he was hesitant to do so in fear that energy prices would rise and opposition of US allies in Europe.

Read more: Oil embargo would hit global market hard

The United Kingdom, furthermore, will also be announcing its ban on Russian oil - London imports most of its energy from Norway. However, it will not be banning natural has. 

Related News

EU delays exit proposal from Russian energy amid geopolitical shifts

EU split over Russian gas comeback in war talks: FT

Today, the European Commission has recently released a plan to reduce European dependency on Russian gas by two-thirds before the end of the year, and completely abandon Russian energy before 2030.

Just yesterday, top European leaders said that they will not abandon Russian gas, because there exists no present alternative in the time being.

German Chancellor Olaf Scholz said: "All our steps are designed in such a way as to hit Russia hard and be sustainable in the long term. Europe deliberately removed energy supplies from Russia from sanctions. At present, there is no other way to ensure Europe's energy supply for heat production, transport, electricity supply and industry. Therefore, it is essential for services of common interest and the daily lives of our citizens."

Read more: Sanctions won't target Russian energy supplies: Scholz

Today, Tuesday, House Speaker Nancy Pelosi announced that the House of Representatives will proceed with banning Russian oil imports, despite Biden's executive action according to an aide for the Democrat party. Banning normal trade relations with Russia could also be on the table.

According to the American Fuel and Petrochemical Manufacturers trade association, Russian oil accounts for approximately 3% of US crude oil imports and 1% of total crude oil processed by US refineries.

With gas prices on the hike, Biden's administration has been looking for ways to unlock more oil supplies in the global mark to ameliorate the gas prices.

Negotiations that Biden has been initiating include with Saudi Arabia, that has been experiencing tensions with its crowned prince, Venezuela which is under draconian US sanctions, and possibly Iran after a nuclear deal is struck in the coming days.

Read more: US urgently reaches out to Venezuela amid possible energy crisis

  • Joe Biden
  • Russian oil
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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