Due to Russia’s unprovoked invasion of Ukraine, U.S. Rep. Tom Cole (R-OK) and U.S. Sen. Jerry Moran (R-KS) this week urged President Joe Biden to immediately institute an embargo on all Russian energy exports and to encourage America’s allies and global partners to do the same.
Currently, the United States purchases roughly 700,000 barrels of oil and other petroleum products per day from Russia, according to a March 1 letter the lawmakers sent to the president.
“Energy makes up approximately one-quarter of Russia’s Gross Domestic Product, and as such, an embargo on Russian energy exports would inflict crippling consequences on its economy,” wrote Rep. Cole and Sen. Moran, who were also joined by U.S. Sen. Roger Marshall (R-KS) in signing the letter.
The lawmakers wrote that Russian President Vladimir Putin’s “malicious invasion” into Ukraine demands sanctions that will inflict a “maximal level of economic pain” on the Russian economy that would be serious enough to deter further escalation of the conflict.
“Simply put, Putin must be held to account for the blood on his hands — an American embargo of Russian energy exports would impose a high cost on the Russian economy while also deterring additional bloodshed,” they wrote.
Rep. Cole and Sen. Moran also asked Bident to reevaluate energy policies that have curtailed domestic production of oil and natural gas and reinstate the permit for construction of the Keystone XL Pipeline, which would allow for the free flow of Canadian crude oil to U.S. refineries.
“The United States of America must utilize its abundant natural resources, and relationships with energy-producing allies, as leverage against a despotic Russian regime that is intent on disrupting peace and threatening global stability,” they wrote.