Biden's ban on Russian oil imports has rather limited commercial effects, but carries symbolic weight.
Russia provided
"Most of my member companies had already self-imposed a boycott of Russian crude," American Petroleum Institute CEO Mike Sommers told Axios at the CERAWeek conference in Houston.Axios' Margaret Talev reportsBiden, amid wider inflation, hopes to redirect Americans' anger toward Putin and politically insulate himself and Democrats, she notes.European countries have not followed suit, though the U.K. is phasing out Russian imports this year.
"We should not replace Russian oil with oil from dictators in Iran and Venezuela," said Sen. John Barrasso, the ranking Republican on the Senate's energy committee.
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