Oil Sales To U.S. Blocked
Here’s what happened…
In retaliation to western price caps being placed on Russian oil, Russian President Vladimir Putin has decided to ban the export of oil to the United States along with several other Western countries as well as the European Union.
According to Breitbart, Putin’s new ban applies to all Russian oil and petroleum products and will go into effect on February 1st and will last until July 1st.
Russia noted that oil exports to Western nations can still happen but only if Putin personally signs off on doing the deal.
This happened because earlier this month a number of Western nations placed a price cap on Russian oil that keep prices from going over $60 a barrel. They did this to punish Russia for invading Ukraine.
It is clear to many political experts that the United States should attempt to negotiate with Russia to end their invasion of Ukraine however President Biden believes that negotiations are not currently on the table.
