The global seaborne commodities trading map continues to be redrawn at a blistering pace in the wake of the Russian invasion of Ukraine two weeks ago.
Yesterday, the United States announced a ban on Russian oil and other energy imports.
“We’re banning all imports of Russian oil and gas and energy,” president Joe Biden said in remarks from the White House. “That means Russian oil will no longer be acceptable at US ports and the American people will deal another powerful blow to Putin’s war machine.”
This will apply only for energy imports into the US. The UK intends to implement such a ban “by the end of the year”.
Other European allies are not expected to join the US in the ban, at least for the time being.
German chancellor Olaf Scholz said that although Berlin supported tough measures against Moscow, Russian energy supplies remained “essential” for daily life in Europe.
Source: Splash 247