According to US Secretary of State Antony Blinken, the US and its European allies are considering blocking Russian oil imports.
While the White House is working with key Congressional committees on their own prohibition.
Europe relies on Russia for crude oil and natural gas, but in the last 24 hours. A source involved with the talks told Reuters that Europe has become more open to the concept of blocking Russian products.
Meanwhile, Speaker of the House of Representatives Nancy Pelosi said in a Sunday letter that the house is “exploring” legislation.
To prohibit Russian oil imports and that Congress plans to pass $10 billion.
In aid for Ukraine this week in reaction to Moscow’s military assault of its neighbor.
According to the source, the White House is also discussing a potential ban with the Senate Finance Committee and the House Ways and Means Committee.
Nonetheless, Blinken emphasized the significance of maintaining a stable oil supply around the world.
“We are now in very active conversations with our European colleagues about restricting Russian oil imports. Onto our nations while, of course, keeping a steady global supply of oil,” Blinken said on NBC’s “Meet the Press” show.
On Saturday, Blinken said he addressed oil imports with President Joe Biden and his cabinet while on a tour across Europe to coordinate with allies the reaction to Russia’s invasion of Ukraine.
Japan, which counts Russia among its allies, as its fifth-largest crude oil supplier. It is in talks with the US and European countries about possibly blocking Russian oil imports.
At a regular news conference on Monday, Japan’s senior government spokesperson, Hirokazu Matsuno. He was asked about a possible restriction on Russian oil imports, but he declined to comment.
Oil prices have risen dramatically in the last week as a result of sanctions imposed by the US and its allies on Russia as a result of the invasion.
On Thursday, a bipartisan group of senators filed legislation prohibiting the import of Russian oil into the United States. The bill is being rushed through Congress, and it may end up being the vehicle for the penalties.
Following Russia’s invasion of Ukraine, the White House issued a statement.