The U.S. has been considering whether to impose a ban on Russia’s oil and gas exports as a way of punishing Moscow.
European policymakers are under immense pressure to bring a swift end to their dependence on Russian fossil fuels, particularly as energy-importing countries continue to refill President Vladimir Putin's war chest with oil and gas revenues on a daily basis.to be responsible for roughly 43% of the Kremlin's federal budget between 2011 and 2020, highlighting how fossil fuels play a central role for the Russian government.
U.S. Secretary of State Antony Blinken told NBC on Sunday that President Joe Biden's administration was in"very active discussions" with European governments about banning imports of Russian crude and natural gas. Speaking at a press conference on Monday, U.K. Prime Minister Boris Johnson appeared to align himself with Germany's Scholz in backing away from plans to impose an oil embargo on Russia.
Dutch Prime Minister Mark Rutte, meanwhile, said at the same press conference that cutting Russian oil and gas imports would need to be a"step-by-step process."