A US congressman has drafted legislation to ban US imports of Russian oil and other petroleum-based energy products in response to Russia’s invasion of Ukraine.
Tom Cole, a member of the House Energy Action Team (HEAT), last week introduced the Prohibition on Imports of Russian oil act.
“By currently purchasing approximately 700,000 barrels of Russian oil and other petroleum products per day, the US is indirectly funding Putin’s war chest, which is absolutely unconscionable,” the Oklahoma congressman said.
“Considering that Russia’s energy industry makes up around one-quarter of its gross domestic product, it is simply common sense for America and our allies to immediately stop buying these products.”
Cole said that if US president Joe Biden will not take action to address this “blatant error and stop feeding the beast”, Congress should pressure him to do so bypassing the Prohibition on Imports of Russian Oil Act.
“This legislation, if enacted, which would cause immediate, crippling economic effects on the Russian economy,” said Cole.
The Biden administration has so far resisted implementing such a ban since it is concerned about the impact of higher energy prices on US consumers.
However, US neighbour Canada has already announced a ban on Russian oil imports, according to US shipbroker Poten & Partners.
But this is largely a symbolic move since the Canadians have not imported any crude oil from Russia since 2019.
Separately, Alaskan congressman Don Young is introducing legislation to authorise the seizure of Russian yachts and commercial vessels currently within the waters of the US.
“As many have seen through images and video in the media, this is a harrowing moment in Europe. Standing in solidarity with our Ukrainian brothers and sisters must be backed with urgent action,” said Young.
“Wealthy Russian oligarchs continue living lavish lifestyles on mega-yachts, all while their thuggish friend Vladimir Putin reigns terror upon innocent, peaceful Ukrainians,” he said.
Young said the Bringing Oligarch Accountability Through Seizure (BOATS) Act has a dual purpose.
“Given the vast humanitarian crisis created by Putin's greed and aggression, this legislation permits the US federal government to auction these vessels and all contents inside, with proceeds going toward humanitarian aid efforts offered by NATO member states,” he said.
“Making life as difficult as possible for Putin’s sycophants allows us to send a message of zero tolerance for Russian aggression and violations of a sovereign state’s borders.”
