08/03/2022
President Biden just signed an Executive Order to ban the import of Russian oil, liquefied natural gas, and coal to the U.S. – a significant action with bipartisan support that will further deprive President Putin of economic resources for his needless war of choice.
Today's Executive Order bans importation into the U.S. of Russian crude oil and certain petroleum products, liquefied natural gas, and coal. This step will deprive Russia of billions of dollars in revenues from U.S. drivers and consumers annually.
The Executive Order also bans new U.S. investment in Russia’s energy sector, which will ensure that American companies and American investors are not underwriting Putin’s efforts to expand energy production inside Russia.
The United States made this decision in close consultation with our Allies and partners around the world, as well as Members of Congress of both parties. The United States is able to take this step because of our strong domestic energy infrastructure.
Today, President Biden made clear that he will keep working to mitigate the pain American families feel at the pump and reduce our dependence on foreign oil and fossil fuels. Our Administration will release more than 90M barrels from the Strategic Petroleum Reserve this fiscal year.
We are united with our Allies and partners in working together to reduce our collective dependence on Russian energy and keep the pressure mounting on Putin, while at the same taking active steps to limit impacts on global energy markets and protect our own economies.
This announcement builds on unprecedented economic costs the United States and our Allies and partners have imposed on Russia. As a result of our historic, multilateral coordination, Russia has become a global economic and financial pariah.
Read more about the U.S. ban on imports of Russian oil, liquefied natural gas, and coal: https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/08/fact-sheet-united-states-bans-imports-of-russian-oil-liquefied-natural-gas-and-coal/
