There is growing momentum in Congress to cut off U.S. imports of oil and petroleum products from Russia in response to the invasion of Ukraine.
This issue is pitting lawmakers from both parties against the White House, which is wary of a ban's potential to jack up gas prices.On Thursday, a bipartisan, bicameral coalition of lawmakers introduced a bill that would ban U.S. oil and petroleum product imports from Russia.House Speaker Nancy Pelosi backed the idea. "I'm all for that. Ban it. Ban the oil coming from Russia," Pelosi said at a news conference.since the mid-2000s, but the country remains a significant importer.
The U.S. imports from Russia have bounced around, from more than 800,000 barrels per day in mid-2021 to about 400,000 per day in December.Banning Russian imports into the U.S. could further increase gas prices, which are already running at their highest levels since 2014.
"We don't have a strategic interest in reducing the global supply of energy," she said. "It’s as simple as: Less supply raises prices."Manchin contested the administration's arguments, saying an imports ban would not necessarily reduce oil supplies and cause prices to rise because the U.S. can boost its domestic production in the meantime.The bill, which has 18 bipartisan co-sponsors, would prohibit more than the importation of Russian crude oil.
If the administration blocks Manchin's push for an imports ban, it could complicate already tough efforts to revive pieces of that legislative package.
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