Russian oil found in US as EU bans imports, OPEC+ considers suspension
Shannon Longworth: As more of the world is set to ban Russian oil — we’re seeing that the United States’ ban might not be entirely effective.
The Wall Street Journal is reporting that partially-Russian fuel landed in New York and New Jersey last month.
That’s two months after President Joe Biden announced the ban.
According to the Journal, the fuel came through the Suez Canal and across the Atlantic Indian refineries.
India has been a big buyer of Russian oil.
The Journal report comes just two days after the European Union agreed to cut 90 percent of Russian oil imports by the end of the year.
Charles Michel | European Union Council President: “I would like to reiterate my gratitude for all the colleagues were able to take together this strong decision and to express a united message towards Ukraine, towards Russia, but also towards the European Union’s citizens and the rest of the world.”
Shannon Longworth: It’s not just the E-U.
The Journal also reported some OPEC members were considering suspending Russia from its oil output deal.
This would allow Saudi Arabia — the United Arab Emirates — and others to produce significantly more crude.