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Biden administration knocks down talk of ban Russia's oil imports

(Official White House Photo by Adam Schultz)

Speaker Nancy Pelosi (D-Calif.) had thrown her support behind an attempt to ban Russian oil imports, which the White House discarded on Thursday, warning that it would only escalate the already high gas prices in the country.

At a news briefing, press secretary Jen Psaki said, "We want to maximize the impact we have on President Putin and Russia while minimizing the impact we have on our allies and partners."

The American people don't have a strategic interest in reducing global energy supply, which would increase gas prices at the gas pumps around the world because the supply would be reduced, she said. As simple as that: less supply raises prices, and the president at this moment has to be concerned about that. This could also lead to President Putin padding his pocket, and that is not what we wish to accomplish."

Additionally, she claimed that the Biden administration has been taking steps to degrade Russia's energy supplier status over time.

Russia exports about five million barrels of crude oil a day, making it the world's biggest oil exporter. Exports to Europe are about 60 percent, and 20 percent are exported to China.

3 March 2022


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