Friday, Apr. 8, 2022
Did the US increase Russian oil imports despite its ban on them?
The U.S. increased imports of Russian oil in the latter weeks of March following President Biden's March 8, 2022, executive order banning Russian oil imports.
According to the Energy Information Administration, the U.S. imported 148,000 barrels of oil per day during the first full week of March. This number dropped to 38,000 barrels per day in the second week of March before rising to 70,000 barrels per day in the third week of March and 100,000 barrels of oil per day during the fourth week of March.
According to Reuters, the Biden administration permitted a 45-day wind-down period for Russian oil imports set to end April 22, 2022. During the first week of April, the EIA recorded zero barrels of oil imported from Russia.
On April 7, 2022, Congress overwhelmingly passed a bill to codify the Russian oil ban laid out by Biden in his executive order.
This fact brief is responsive to conversations such as this one.
Sources
- White House FACT SHEET: United States Bans Imports of Russian Oil, Liquefied Natural Gas, and Coal
- US Energy Information Administration Weekly U.S. Imports from Russia of Crude Oil (Thousand Barrels per Day)
- Reuters U.S. fuel oil imports from Latin America jump ahead of Russia wind-down
- Reuters U.S. Congress votes to strip Russia of 'most favored' trade status, ban its oil
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