The US House of Representatives and Senate passed and sent to President Joe Biden for his signature legislation that would bar US imports of Russian oil, gas, and coal, Bloomberg reported.
Congress backed a full energy embargo by an absolute majority of 413 in favor and only 9 against, following a unanimous vote in the Senate. Once signed by President Biden, new restrictions against Russia will take effect.
Congress also voted to approve legislation stripping Russia of its normal trade relation status, a move that allows the US to impose large tariff increases on goods from Russia and Belarus in response to the invasion of Ukraine.
“This package is about bringing every tool of economic pressure to bear on Vladimir Putin and his oligarch cronies,” said Senator Ron Wyden, an Oregon Democrat who authored the Senate version of the oil ban and trade legislation. “Putin’s Russia does not deserve to be a part of the economic order that has existed since the end of World War II. Ending normal trade relations hammers home that Putin has made Russia into a pariah state.”
As reported earlier, the US and the European Union have announced an initiative to help Europe get rid of its dependence on Russian oil and gas.