Home Breaking News US ‘bans Russian oil’ for its ‘unprovoked and unjustified war on Ukraine’ with UK to follow end of this year

US ‘bans Russian oil’ for its ‘unprovoked and unjustified war on Ukraine’ with UK to follow end of this year

by LLB political Reporter
8th Mar 22 4:31 pm

The US ate to ban all “Russian oil” from Tuesday morning amid Vladimir Putin’s “actions” and they will “continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine.”

The Ukrainian President Volodymyr Zelensky urged Western officials to stop all Russian oil imports.

By the US and other Western countries cutting off all oil supplies with Putin this will be a major blow for the Russian economy.

The US are also consulting with their European counterparts but Europe relies heavily on Russian oil making the move very difficult.

Read more on Russia-Ukraine war:

Shell announces they  plans to withdraw from the Russian oil and gas market

Brits warned to expect energy and food prices ‘will rise further’ hitting families hard amid Ukraine crisis

Energy crisis, spiraling food prices and Ukraine war could ‘force’ Chancellor Rishi Sunak to ‘set a new budget’

The AA warns ‘£7 a gallon could well be a watershed moment’ as fuel prices hit record high amid Ukraine war

It is also looking likely that the British Prime Minister Boris Johnson will follow the US and could make his decision today.

The Business Secretary Kwasi Kwarteng has also confirmed on Tuesday that the UK will “phase out” Russian oil by the end of this year.

He wrote on Twitter, “The UK is a significant producer of oil and oil products, plus we hold significant reserves.

“Beyond Russia, the vast majority of our imports come from reliable partners such as the US, Netherlands and the Gulf. We’ll work with them this year to secure further supplies.”

He added, “The market has already begun to ostracise Russian oil, with nearly 70% of it currently unable to find a buyer.

“Finally, while the UK is not dependent on Russian natural gas – 4% of our supply – I am exploring options to end this altogether.”

Sky News Deputy Political Editor said, “That gives nine months to adjust to buying stocks from US and Middle East.”

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