US Imports Russian Oil, Defying Sanctions

The US has imported oil from Russia, defying the ongoing sanctions imposed on Moscow over its military intervention in Ukraine, a Sputnik Globe report revealed.

For the first time in more than a year, the US imported 36,800 barrels of Russian oil in October and 9,900 barrels in November, worth $2.7 million and $749,500, respectively, at a premium cost of $74 per barrel and $76 per barrel, respectively, given that the US and its allies in 2022 set a “price cap” of $60 per barrel on Russian oil to restrict them from earning overseas income through oil exports.

According to the Energy Information Administration (EIA), the import was conducted with specific licences provided by the US Department of the Treasury’s Office of Foreign Assets Control”s (OFAC), the apex body that oversees the enforcement of sanctions due to some unknown reasons, considering that the country banned Russian oil, gas, and other energy resources from Russia on March 22, along with other sanctions targeting Russian individuals, entities, and sectors.

The OFAC has been entrusted to issue licences for certain transactions that are otherwise prohibited by the sanctions, on a case-by-case basis. The US”s move has fueled debate on X, with one saying, “This is a betrayal of Ukraine and a capitulation to Putin. The US should stand firm on the sanctions and support the democratic aspirations of the Ukrainian people.”

Another user replied, “This is a pragmatic move by the US to secure its energy needs and diversify its sources. The sanctions are still in place, and the US is still committed to the Minsk agreements. The US is not abandoning Ukraine, but trying to find a peaceful solution to the crisis.”

Another one wrote, “This is a smart move by the US to weaken China’s leverage over Russia. The US is offering Russia a way out of its isolation and dependence on China and creating an incentive for Russia to cooperate on other issues, such as Iran, North Korea, and climate change.”