International Business: US-Europe explore ban on Russian oil imports – Gulf Digital News

International Business: US-Europe explore ban on Russian oil imports – Gulf Digital News

WASHINGTON: The US and European partners are exploring banning Russian oil imports, US Secretary of State Antony Blinken said yesterday, but stressed the importance of maintaining steady oil supplies globally.

“We are now in very active discussions with our European partners about banning the import of Russian oil to our countries, while of course, at the same time, maintaining a steady global supply of oil,” Blinken said in an interview on NBC’s ‘Meet the Press’ show.

Blinken, who is currently on a trip across Europe to co-ordinate with allies against the Russian invasion of Ukraine, added that he discussed oil imports with President Joe Biden and his cabinet on Saturday.

Blinken’s comments came as oil prices have soared over the past week after the US and its allies sanctioned Russia following its invasion of Ukraine.

After Russia’s invasion of Ukraine, the White House slapped sanctions on exports of technologies to Russia’s refineries and the Nord Stream 2 gas pipeline, which has never launched. So far, it has stopped short of targeting Russia’s oil and gas exports as the Biden administration weighs the impacts on global oil markets and US energy prices.

Asked if the US has ruled out banning Russian oil imports unilaterally, Blinken