House Speaker Nancy Pelosi (D-Calif.) is expressing support for banning Russian energy imports in the wake of its invasion of Ukraine.
During a press conference on Thursday morning, Pelosi was asked about the push by Democratic lawmakers to ban Russian oil imports into the U.S. and where she stands on the issue.
“I’m all for that. Ban it,” Pelosi responded. “Ban the oil coming from Russia.”
Watch the video below:
.@SpeakerPelosi: "I'm all for that. Ban it. Ban the oil coming from Russia." pic.twitter.com/kKji1sbcKJ
— CSPAN (@cspan) March 3, 2022
The U.S. and its allies imposed sanctions on Russia’s financial sector and have targeted Russian President Vladimir Putin over Russia’s invasion. They have also closed their airspace to Russian flights.
But as of Thursday morning, one area that the sanctions have not targeted is Russia’s lucrative energy sector. Last year, energy exports accounted for roughly 36% of Russia’s budget revenues. Additionally, it is the third-largest oil producer in the world.
Several Democratic lawmakers are now pushing for the U.S. to ban oil imports to pressure Russia to halt its invasion.
Sen. John Tester (D-Mont.) told NBC News, “It is so obviously apparent that we need to cut it off. I wonder if there’s a reason we haven’t [and] what the hell the reason is.”
And Sen. Joe Manchin (D-W.Va.) said, “We should stop buying over 600,000 barrels [of Russian oil] a day in America. Can you believe that? No one knew that. No one paid attention to it. And that has to stop.”
The call to block Russian oil imports is bipartisan.
Sen. Tom Cotton (R-Ark.) tweeted on Thursday, “At $110 per barrel, America is sending $22M to fund Putin’s war machine today. It’s time for Biden to sanction Russian oil.”
At $110 per barrel, America is sending $22M to fund Putin's war machine today. It's time for Biden to sanction Russian oil.
— Tom Cotton (@SenTomCotton) March 3, 2022
Meanwhile, Sen. Lisa Murkowski (R-Alaska) told Politico that banning Russian oil imports is the move that “can do the most immediate damage to Russia in halting their efforts.”
“We are going to see price increases,” Murkowski continued. “Nobody wants to see that. And this is going to hurt. But we all need to recognize Europe is in the midst of a war with Russia now. Innocent people are dying, children are dying. We have not been in as volatile as a situation as anytime in my life.”
Politico notes that Russian oil does not make up a “major share of U.S. consumption,” but a decrease in oil supply could increase prices.
Murkowski and Manchin have partnered to introduce a bill that would ban Russian oil imports.
However, White House spokeswoman Karine Jean-Pierre told reporters on Wednesday that the U.S. does not “have a strategic interest in reducing the global supply of energy.” She added, “That would raise prices at the gas pump for Americans.”