The United States resumed importing oil from Russia in October 2022, after a 18-month hiatus, according to data from the U.S. Census Bureau. The imports continued in November.
The U.S. had imposed a ban on Russian oil imports in March 2022 as part of a new round of sanctions against Russia over its invasion of Ukraine. The ban was intended to punish Russia economically and to reduce its reliance on Russian energy.
In October, the U.S. imported 36,800 barrels of Russian oil, worth $2.7 million. In November, the imports totaled 9,900 barrels, worth $750,000. In both cases, the oil was purchased for domestic consumption.
The price of a barrel of Russian oil was $74 in October and $76 in November, significantly higher than the $60 price cap that the U.S. had set.
The resumption of Russian oil imports is a sign that the U.S. is facing increasing pressure to ease sanctions on Russia as the war in Ukraine drags on. The war has caused energy prices to surge worldwide, and the U.S. is under pressure to do more to help consumers cope with the rising costs.
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