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U.S. Secretary of State Antony Blinken says the USA and its allies are having a “very lively dialogue” about banning the import of Russian oil and pure fuel within the newest escalation of their sanctions in retaliation for its invasion of Ukraine.
Requested about oil and fuel imports, Blinken informed CNN on Sunday that U.S. President Joe Biden convened a gathering of his Nationwide Safety Council on the topic the day earlier than. Biden and Western allies have till now held off on sanctions towards Russia’s profitable power trade to keep away from blowback on their very own economies.
“We are actually speaking to our European companions and allies to look in a co-ordinated means on the prospect of banning the import of Russian oil whereas ensuring that there’s nonetheless an applicable provide of oil on world markets,” Blinken mentioned. “That is a really lively dialogue as we converse.”
An professional on transatlantic ties, world safety and relations with Russia spoke to CBC’s Rosemary Barton Stay on Sunday, saying that stopping the move of Russian oil and fuel imports is “actually the following and most devastating step we are able to take.”
“That is the place definitely the Biden administration has not needed to go as a result of they’re watching the worth on the pump and watching, definitely, elevated inflation. However that is precisely the place they need to go,” mentioned Heather Conley, president of the nonpartisan U.S. public coverage think-tank the German Marshall Fund.
Within the days because the West imposed sanctions on Russia, following the beginning of the Feb. 24 invasion, odd Russians have been feeling the results — from cost techniques that will not function and issues withdrawing money to not having the ability to buy sure objects.
Retail, auto trade take motion
Extra corporations are suspending operations in Russia, together with Apple, Mercedes-Benz, BP, Volkswagen, clothes retailer H&M and furnishings retailer Ikea.
Main automotive manufacturers have halted exports of their autos, or manufacturing in Russia, as is the case for Tokyo; Boeing and Airbus suspended provide of plane elements and repair to Russian airways; main Hollywood studios halted their movie releases — and the checklist will doubtless continue to grow.
Within the wake of Western sanctions, Aeroflot, Russia’s flagship state-owned airline, introduced plans to halt all worldwide flights besides to Belarus beginning on Tuesday.
Russia’s monetary system suffered yet one more blow as MasterCard and Visa introduced they had been suspending operations within the nation.
European Union chief Charles Michel on Sunday denied that financial sanctions towards Russia represent “a battle of the EU or NATO towards Russia.” Russian President Vladimir Putin has linked the West’s financial punishment for his invasion of Ukraine to “declaring battle” on Moscow.
Michel mentioned European and American allies imposed sanctions “to create strain and damage the [Russian] regime,” not the folks.
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