The Biden administration is looking at options to cut U.S. imports of Russian oil and weighing possible actions to minimize the impact on global supplies and impacts on consumers, the White House said on Friday.
The White House also remains in contact with U.S. lawmakers over the issue, White House spokeswoman Jen Psaki told reporters at a briefing.
“We are looking at ways to reduce the import of Russian oil while also making sure that we are maintaining the global supply needs out there,” Psaki said.
The United States imported more than 20.4 million barrels of crude and refined products a month on average in 2021 from Russia, about 8% of U.S. liquid fuel imports, according to the Energy Information Administration (EIA).
White House economic adviser Cecilia Rouse noted that while the United States does not import much Russian oil, it is still reviewing a range of possible steps.
“What’s really most important is that we maintain (a) steady supply of global energy,” she said at the briefing, adding that the administration was “considering a range of options that we could take right now if we were going to cut” consumption of Russian energy.
Their comments come as oil prices have soared over the past week after the United States and its allies sanctioned Russia following its invasion of Ukraine.