U.S. Oil Import Ban To Leave More Russian Crude Unsold

The U.S. decision to ban imports of Russian oil is likely to worsen Russia’s struggles to sell its cargoes as buyers will avoid Russian crude even more than they have been doing so far, traders told Reuters after U.S. President Joe Biden said on Tuesday America is banning Russian energy imports immediately. The ban includes not only Russian oil, but also coal and liquefied natural gas (LNG). The United States, which imports around 500,000 bpd of Russian crude and products, can afford to ban imports from Russia without severe consequences…