Secretary of State Anthony Blinken said the US and its European partners are exploring a possible embargo on Russian oil imports to put more pressure on Putin over the Ukraine conflict.
Biden's administration, concerned about pushing up energy prices for Americans, came under further pressure on Sunday from Congress to implement an embargo. If such a restriction were enforced, oil supplies would have to be guaranteed, according to Blinken, who said he discussed the topic with Biden on Saturday.
"We are presently in very active conversations with our European partners about restricting the import of Russian oil into our nations while, of course, ensuring a constant global supply of oil," said Blinken, who was in Eastern Europe on Sunday for talks.
People familiar with the situation stated last week that discussions are taking place within the Biden administration and with the US oil and gas business about the potential implications of a ban on Russian crude imports. Senator Joe Manchin, a Democrat from West Virginia who is part of a bipartisan group of senators supporting a bill to enforce the limit, recommended on Sunday that the US go it alone.
"I believe... it's simply ridiculous for us to be buying items and giving profit and giving money to Putin to be able to utilise against the Ukrainian people," Manchin stated on NBC. "So why don't we take the initiative?" "Why wouldn't we demonstrate our resolve?"
Crude's record rise last week could be extended if an embargo is imposed. The oil market might tighten further, according to Vitol, the world's largest independent petroleum trader, as Russian flows are disrupted and exporters such as Libya face supply concerns.
According to data from the US Energy Information Administration, Russian oil made up around 3% of all crude shipments that arrived in the US last year. According to the intelligence organisation Kpler, Russian crude imports to the United States in 2022 will be at their lowest yearly rate since 2017.