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U.S. Says Russian Oil Import Ban on the Table in Talks With EU

  • Biden administration faces more bipartisan pressure to act
  • Blinken says steady global supply would have to be maintained
A worker turns a valve wheel at a gas well on the Gazprom oil, gas and condensate field in the Lensk district of the Sakha Republic, Russia.

A worker turns a valve wheel at a gas well on the Gazprom oil, gas and condensate field in the Lensk district of the Sakha Republic, Russia.

Source: Bloomberg

The U.S. and its European allies are discussing a possible ban of Russian oil imports to tighten the economic squeeze on President Vladimir Putin over the war in Ukraine, Secretary of State Antony Blinken said.

President Joe Biden’s administration, wary of pushing up energy prices for Americans, faced further pressure from Congress on Sunday to impose an embargo. Blinken, who said he discussed the matter with Biden on Saturday, said oil supplies would have to be ensured if such a measure were imposed.