Go ahead! Ban Russian oil. The U.S. doesn't use much of it anyways.
Monday, adding: “At the moment, Europe’s supply of energy for heat generation, mobility, power supply and industry cannot be secured in any other way. It is therefore of essential importance for the provision of public services and the daily lives of our citizens.”
In the U.S., meanwhile, it’s unclear how much of a practical impact Biden’s newly announced ban will have, given that many Western companies were already, after concluding that buying it wasn’t worth the legal and publicity risk. The European oil giant Shell was a major exception.
But in general, going without Russian oil could still cause some headaches for ordinary Americans filling up their gas tanks, as well as for the Biden administration. Although the U.S. doesn’t get much of its oil from Russia—the country only accounted for of our imports last year—refiners will still need to find alternatives. With supply tight around the world, that could prove tricky.