Analysis: The lights will not be going out in America but the same cannot be said for the EU, given its energy dependence on Moscow
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.
