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Environment

Amy Myers Jaffe, Research professor, Fletcher School of Law and Diplomacy, Tufts University

The US is banning Russian oil imports, but an embargo that includes European allies would have more impact

United States Russia Europe Joe Biden Ukraine Amy Myers Jaffe China India

Moscow headquarters of Rosneft, Russia's state-owned oil company. AP Photo/Mikhail Metzel

President Joe Biden announced on March 8, 2022, that the U.S. will ban imports of oil from Russia, along with refined petroleum products, natural gas and coal. The ban is the latest U.S. action designed to punish Russia for its invasion of Ukraine. Global energy policy expert Amy Myers Jaffe explains how this step is likely to affect oil prices – and Russia.

How important is Russia as a US oil supplier?

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