Senate Democratic aides said that some senators were pressured not to support the bipartisan legislation that would ban oil and gas imports from Russia. Get market news that is relevant to you. You can subscribe for free. The quiet lobbying campaign shows that the White House is intent on preserving President Biden's authority to decide what costs to impose on Russia for invading Ukraine. His advisers are frustrated with congressional efforts to box him in. On Friday, the White House said it was open to reducing the import of Russian oil. Biden is concerned that a ban could lead to higher prices at the pump in parts of the U.S. It could cause oil prices to go up around the globe. Most of Russia's oil products are sent to Europe and Asia. Russian oil accounted for 3% of U.S. crude imports in 2011. It is mostly imported in Hawaii and the coasts, where there is no access to the big domestic oil fields. Economists and energy analysts don't agree on how much of a price spike an import ban would generate. Cecilia Rouse, chair of the Council of Economic Advisors, told reporters on Friday that they are looking at options if the U.S. were to cut its consumption of Russian energy. The White House initially dismissed the congressional effort to impose an embargo on Russian oil for the U.S. The lobbying effort earlier in the week appeared to have mixed results. The legislation has 20 co-sponsors. Nancy Pelosi told reporters on Thursday that she was all for banning it. The administration was in talks with the oil and gas industry about the effect a ban would have on prices. The White House wouldn't comment. The White House's response to the Manchin-Murkowski effort looks similar to its requests last week for lawmakers to reduce demands to expel Russia from the SWIFT financial system, according to Senate aides. Michael McFaul, who was the U.S. ambassador to Russia under President Barack Obama, said Friday that he expects the practice of imports of Russian oil to change soon. The United States shouldn't be buying Russian oil. During an online panel discussion about the Russian invasion of Ukraine moderated by Jonathan Swan, the president of the United States said, " Period." I understand inflation. I am aware of the arguments. There is no ethical or moral reason for us to be doing that. Many U.S. refiners have stopped purchasing oil from Russia because they are concerned about how to pay for it if many Russian entities are under banking sanctions. In the last week of February, the U.S. imports dropped to zero according to preliminary data from the Energy Information Agency. According to the Wall Street Journal, Shell, which is based in the United Kingdom, bought Russian crude at a steep discount on Friday. The US gas prices are running at the same level as they were a year ago, due to an economic resurgence and tight global supplies. The White House has always wanted to keep sanctions in its back pocket so that they wouldn't hurt American consumers. With international and domestic opinion against Russia, Biden may be pressed to impose sanctions early. Do you like this article? You can get more from Axios for free. Russian billionaire Alexey Mordashov shuffled his holdings in a number of companies after the European Union imposed sanctions on him. Laura Ingraham and Tucker Carlson are raising money for Russians. Put your ideas into action with the cloud products and services from Microsoft. The Star Trek icon is being called everything from a national treasure to a hole on social media. The Wall Street Journal reports that Russian officials want a written guarantee that sanctions related to the invasion of Ukraine will not affect the country's trade with Iran. The U.S. and Iran are close to reaching a deal to bring back the 2015 Iran nuclear pact, which would lift most international sanctions on Iran in exchange for tight but temporary restrictions on Iran's nuclear programs. Congress wants to seize assets from people with close ties to Putin. It could be difficult to actually do it. Work from anywhere with secure access to resources. The Chinese Embassy in Washington D.C. has released a statement about the American genocide of the Indians. According to international law and its domestic law, what the United States did to the Indians is genocide. He is facing life in prison for kidnapping the girl. The senator said he was told not to post the photo of the Ukrainian president. He defended his actions and did not take it down. They saw that it worked. Almost every house in the neighborhood has it. I get a lot of thanks for my method. The Special Forces veteran said that the fighting spirit of the Ukrainians would bleed Putin's army dry. Rodgers has deals with several teams. Russia is slaughtering innocent children, women and men for its own gain, according to the German Embassy in South Africa. Choose a browser that protects your privacy. You can get built-in tracker blockers. He is not a CEO like the others. The billionaire has proved that he is a CEO in his own right, who does not play in the same court as his peers. If a large number of companies have announced to suspend or stop their activities in Russia, their leaders have not taken a stance in the war. Russian and Ukrainians are expected to head to Mexico to claim asylum due to the war, according to a report. The U.S. branch of the Canadian Freedom Convoy arrived in the nation's capital Sunday. You can get unlimited data for $25 a month. 5G was included. Family plan savings. No family was needed. There are terms that apply. Russia has taken over the spoils of Ukraine. There are corpses in the snow. There are rockets raining on civilians. The capital is waiting for Russian forces to advance. Russian forces are gathering resources for a storm, according to the Ukrainian military. The SEC chair gave an update on the push to delist Chinese companies from the U.S. stock exchanges. A high-interest account allows you to earn compound interest, while still having full access to your money. These are the top picks. The former Ukrainian ambassador called on the U.S. to take a leadership role in ending the war. The president of China said on Sunday that the country must rely on the domestic market to maintain production. At a meeting with delegates from the Chinese People's Political Consultative Conference, the president said that China should guarantee capacity at home and import grains "appropriately". China has increased its focus on food security. Zelenskyy said that he was grateful to him for supporting Ukraine with words and actions.Axios
Ad•Microsoft
Ad•Azure
Ad•Visible
Ad•SmartAsset
All Rights Reserved © 2024
