Mar 8, 2022: The U.S has banned all oil and gas imports from Russia, a move announced by US President Joe Biden in a bid to pressure Russian President Vladimir Putin to end the war in Ukraine.

Speaking at the White House on Tuesday morning, Biden said the move was aimed at “an important artery of the Russian economy.”

“We’re banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be acceptable at U.S ports and the American people will deal another powerful blow to Putin’s war machine,” he told reporters.

Rights activists and Ukrainian leaders have called on the United States and its European allies to impose sanctions on Russia’s oil and gas sector in response to the February 24 attack on Ukraine, which destroyed major cities and millions have been forced to flee the country.

Western nations, especially European ones, which rely heavily on Russian oil and gas for most of their energy needs, are hesitant amid fears that sanctions could cut off much-needed supplies and skyrocket prices.

According to the American Fuel and Petrochemical Manufacturers (AFPM) trade association, the United States is not relying too heavily on Russia for its energy supply, importing an average of 209,000 barrels per day of crude oil in 2021 – or the country’s total 3% of imports.

Meanwhile Europe is largely dependent on Russian energy supplies, with about 35% of the EU’s natural gas coming from Russia.

On Monday, a senior Russian official said Western sanctions on Russian oil imports would have “devastating” consequences. Russian Deputy Prime Minister Alexander Novak said the move could more than double the price of oil to about $300 a barrel. But calls have been made to hit Russia’s lucrative oil and gas sector to end the bloodshed in Ukraine.

Oil and gas giant Shell said on Tuesday that it would gradually withdraw from all Russian oil and gas, beginning with an immediate stop to all “spot purchases” of Russian crude oil.

The company’s CEO, Ben van Beurden, also apologised for buying Russian crude last week, saying the decision “was not the right one” amid the continuing war in Ukraine.

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