US President Joe Biden said that Washington bans imports of oil, gas and electricity from Russia. In his opinion, the US understands that allies in Europe will not be able to join this ban.
According to Biden, this decision was supported by both the Democratic and Republican parties. But at the same time, Biden admitted that the consequences of these sanctions will also hit the States themselves – gasoline prices, which have reached historically high levels, will continue to increase. The American leader urged the private sector not to inflate prices and promised to fight speculators.
In addition, the US President said that Washington understands that allies in Europe will not be able to join the ban on energy imports from Russia. On the other hand, the US, in its quest for energy independence, is discussing with EU prospects for abandoning oil and gas from Russia. Amid reports of new sanctions, Brent rose to $132 per barrel.
Earlier March 8 United Kingdom stated, which will stop the import of Russian oil and oil products by the end of this year. In addition, London is considering the possibility of refusing to import Russian gas.
In addition, it became known that the British-Dutch oil and gas group of companies Shell is planning abandon Russian oil and gas. Shell will close all gas stations and the production of jet fuel and lubricants in the Russian Federation. The company also refuses to participate in all Russian projects.
In Europe, the situation is much more complicated. Due to Russia’s ongoing war against Ukraine and the likely freezing of Russian energy imports by the West, the price of natural gas in Europe has reached a new record level of 345 euros per MWh, or almost $3900 per 1000 cubic meters.
According to the AFP agency, this is 60% higher compared to the day before. In the UK, the price of the so-called therm – a unit of heat used there – has risen to 800 pence. The price of oil has also soared due to growing fears of the negative impact of the war in Ukraine on energy supplies. Russia is an important supplier of oil and gas to the European market.
In Greece, gas station prices immediately reacted to rising oil prices. As a result, the price of 95 unleaded gasoline has exceeded the historical mark of 2 euros.