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Poland ready to deploy all MIG-29 jets to US for Ukraine
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Guilty verdict in first January 6 trial
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Experts condemn Florida over child Covid vaccine advice
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Summary
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Biden: Russian oil will no longer be acceptable in US ports
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Biden expected to ban Russian oil imports
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Joe Biden’s decision to ban imports of Russian oil increases the economic pressure on Vladimir Putin – but it is not without risk.
On the face of it, the announcement from the White House looks like a bit of a free hit, given the fact that Russia accounts for just 7% of the oil imported by the world’s biggest economy. Three-fifths of Russia’s oil exports go to the EU, only 8% to the US.
Even so, Biden is taking a gamble for three important reasons.
- The first risk is that a toughening up of sanctions has given another upward twist to oil prices. American motorists were already paying higher pump prices and as the US president admitted, they will soon be paying even more. Oil prices are up by 70% since the start of the year. The Oslo-based consultancy Rystad Energy has predicted a complete ban on Russian oil and gas could send crude prices to $200 a barrel. The previous milestone was $147, reached in 2008.
- The second risk is that Biden’s action fractures the western coalition against Putin, which has been solid. While support from the UK means the US is not going it alone , other European countries have misgivings. That is hardly surprising, because the EU gets 40% of its gas and just over a quarter of its oil from Russia.
- The third risk is that Putin gets in his retaliation first by cutting off supplies. The EU has announced steps to reduce its dependency on Russian oil and gas, and the crisis could well have the effect of speeding up the transition from fossil fuels to clean energy. But in the short term the loss of such a big chunk of its energy supply would result in weaker growth and higher inflation.
Here’s our story on Biden’s ban:
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Poland ready to deploy all MIG-29 jets to US for Ukraine
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The election administrator in Texas’ largest county has said she will step down after her office faced scrutiny over errors in the state’s 1 March primary. The administrator, Isabel Longoria, announced she would step down 1 July.
Longoria’s office said there were 10,000 ballots – 6,000 Democratic and 4,000 Republican – that had erroneously not been included in the unofficial results from the primary. Her office also faced criticism for delays in reporting election night results.
Harris county commissioners created an office dedicated to election administration in July 2020. Longoria was appointed to that office in October 2020. At the time, she was serving as a special adviser to election officials on voting rights.
Lina Hidalgo, a Democrat and the top executive in Harris county, said on Tuesday she had requested a change in leadership in Longoria’s office.
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Guilty verdict in first January 6 trial
The first Capitol rioter to go to jury trial has been convicted on all five charges he faced.
