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U.S. weighs cutting Russian oil imports amid broad public support -Breaking

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© Reuters. The view from the general perspective shows an oil refinery hidden behind residential structures in Omsk (Russia), February 10, 2021. REUTERS/Alexey Malgavko

WASHINGTON (Reuters] -The Biden Administration is considering cutting U.S. crude oil imports and ways to minimise the effect on global supply chains, said the White House on Friday. The White House was speaking as legislators move quickly on a bill banning all Russian energy imports.

Jen Psaki, White House spokesperson, said that the White House is looking into ways to decrease the Russian oil imports while maintaining global supply. She said that the White House is still in touch with U.S. legislators on this issue.

U.S. Senators Joe Manchin, a West Virginia Democrat, and Lisa Murkowski, an Alaska Republican, on Thursday proposed bipartisan legislation to ban Russian energy imports in response to the invasion of Ukraine, calling it a counter to Russia “weaponizing” energy.

Senate fast-tracks the bill. The White House might rely on it to ban imports. It would share in any price increases.

A Reuters/Ipsos poll conducted on Friday found that a large bipartisan majority believe America should end its purchase of Russian oil. It is supported by around 80% Americans, which includes solid majority of Republicans as well as Democrats.

However, the White House remains cautious due to concerns about gasoline prices rising, which could lead to inflation that is decades high.

Americans are among the most prolific gasoline consumers in the world. They have large vehicles, high driving distances, limited public transport, and high gas prices.

In 2021, the United States imported on average more than 20.4 millions barrels of oil and refined products per month from Russia. That’s about 8% U.S. liquid fuel imports according to Energy Information Administration.

Cecilia Rouse, White House economic advisor, noted that the United States doesn’t import much Russian oil but is currently reviewing several options.

She stated that “what’s most important” is “a steady supply of international energy,” and that there were a variety of choices that could be made if Russia was to reduce its energy consumption.

These comments were made as oil prices rise after sanctions by the United States of America and allies on Russia in the wake of its invasion Ukraine.

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