UK, US Announce Ban On Imports Of Russian Oil

U.S. President Joe Biden announced a ban on imports of Russian oil, natural gas and energy as part of a series of sanctions targeting the Russian-Ukrainian war. According to local media reports, the United States currently imports about 100,000 barrels of crude oil to Russia per day, accounting for only about 5% of Russia’s crude oil exports, reflecting that the United States is not highly dependent on Russia for energy. In addition, British Prime Minister Boris Johnson also announced that he will gradually stop imports of Russian oil and petroleum products by the end of 2022. The U.K. business secretary said Russian oil accounted for about 8% of U.K. oil demand. The United States and the United Kingdom also announced a ban on the import of Russian oil, which once drove the international oil price up by 8% to close to the level of 129.4 US dollars per barrel. The market is concerned that the relevant sanctions will have a significant impact on global energy prices and economic prospects.