"US Congress Introduces Bill to Ban Russian Oil Imports, Vowing Not to Fund Putin's War with Dollars"

On the 3rd (local time), Senator Lisa Murkowski and Senator Joe Manchin announced that they will introduce the "Russia Energy Import Ban Act," which prohibits the import of Russian oil.
[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] The U.S. Congress has pressured the Joe Biden administration to ban imports of Russian oil and announced related legislation. This is a measure to cut off the main source of income for Russian President Vladimir Putin, who launched the invasion of Ukraine.

According to local media such as the Associated Press and The Wall Street Journal (WSJ), 18 bipartisan lawmakers, including Democratic Senator Joe Manchin and Republican Senator Lisa Murkowski, announced on the 3rd (local time) that they would introduce the "Russian Energy Import Ban Act," which prohibits imports of Russian oil.

Senator Murkowski said at a press conference that day, "We will no longer pay U.S. dollars for Russia killing innocent people," and added, "This bill will solve that."

The bill centers on applying a national emergency, stating that Russia's invasion of Ukraine poses a threat to U.S. security, foreign policy, and economy. During this period, it requires banning imports of Russian crude oil and petroleum products. However, goods already loaded or in transit before this are not subject to the ban.

WSJ reported that unlike other recently introduced bills, this bill has secured bipartisan and bicameral support. However, it remains uncertain whether it can obtain the 60 votes needed for passage in the Senate, where Democrats and Republicans are evenly split 50-50.

Democratic Senator Ed Markey stated, "We cannot blame Europe for relying on Russian energy while pouring dirty oil money into Russia," expressing support for banning Russian oil imports. Republican Senator Lindsey Graham mentioned that if other countries also ban imports of Russian oil, it would deal a significant blow to President Putin.

House Speaker Nancy Pelosi also told reporters, "I fully support the import ban," emphasizing, "Let's ban Russian oil."

The Joe Biden administration maintains that all options, including energy sanctions, are on the table. However, it continues to deliberate carefully, considering that energy sanctions could worsen the global energy supply chain as well as inflation within the U.S. The White House did not immediately respond when asked whether President Biden would sign the Russian oil import ban bill if it passes Congress.

When Senator Manchin was asked about the potential impact of the bill on U.S. consumers, such as a sharp rise in gasoline prices, he said, "I am willing to pay 10 cents more per gallon to support Ukrainians." Russia accounts for about 10% of the world's crude oil production. Since the invasion of Ukraine and the strengthening of Western sanctions, there have already been movements in the market to purchase other crude oils instead of Russian crude.

This content was produced with the assistance of AI translation services.