Bloomberg reported on Friday that the Biden administration is *FINALLY* “weighing a ban on US imports of Russian crude oil as Congress races toward passing such a restriction”:
SCOOP: Biden admin is weighing a ban on US imports of Russian crude oil as Congress races toward passing such a restriction, sources tell me, @nwadhams @SalehaMohsin @AriNatter. Talks are taking place, I'm told. Admin trying to size up impact on US, global supply. No decision yet
— Jennifer Jacobs (@JenniferJJacobs) March 4, 2022
But no decision has been made yet because, really, what’s the rush? Take all the time you need, guys:
The Biden administration is weighing a ban on U.S. imports of Russian crude oil as Congress races toward passing such a restriction to punish the Kremlin for its invasion of Ukraine.
A White House spokesperson said no decision has been made.https://t.co/SpqZlUjiaD
— Ari Natter (@AriNatter) March 4, 2022
The “head of Ukraine’s largest state-owned oil + gas company” said that “the only way to get Putin to pull back is to cut-off his income from energy sources”:
Recommended
Head of Ukraine's largest state-owned oil + gas company tells @DanielPFlatleythe only way to get Putin to pull back is to cut-off his income from energy sources
“It can change his mind" @NaftogazUkraine CEO Yuriy Vitrenko said of Putinhttps://t.co/D4G5QRgbTO
— Saleha Mohsin (@SalehaMohsin) March 4, 2022
What’s even crazier is the Biden administration is not working with Prime Minister Justin Trudeau to increase oil imports from Canada:
Big news…wondering all week why don’t we work with Canada to up global supply – Trudeau announced a ban on Monday https://t.co/8qPHwe3f67
— Susan Crabtree (@susancrabtree) March 4, 2022
We expect team Biden is worried about gas prices and inflation which is “now seen touching 8% for this past Feb, and could hit 9% in coming months Year-end outlook = above 6%”:
Russia's invasion of Ukraine has upended the already fragile outlook for US inflation this year, per @economics
It's now seen touching 8% for this past Feb, and could hit 9% in coming months
Year-end outlook = above 6%
— Saleha Mohsin (@SalehaMohsin) March 4, 2022
Zero Pinocchios for this statement: “The West’s dependence on Russian energy is making a mockery of the whole idea of sanctions. We won’t play football, but are transferring billions to Putin for gas and oil”:
"The West’s dependence on Russian energy is making a mockery of the whole idea of sanctions. We won’t play football, but are transferring billions to Putin for gas and oil" | ✍️ Matthew Parris https://t.co/hhbdxkopH8
— The Times (@thetimes) March 4, 2022
***
Related:
Jen Psaki explains why Biden is not ordering sanctions on Russia’s energy sector
