Home / MARKETS / The House voted to ban the import of Russian oil even though Biden already banned it by executive order

The House voted to ban the import of Russian oil even though Biden already banned it by executive order

Get the Insider App

A signed feed, summary mode, and ad-free experience.

Download the app

Close iconTwo crossed lines that form an ‘X’. It indicates a way to close an interaction, or dismiss a notification.

  • The House voted to ban on Russian oil a day after the Biden administration enacted its own ban.
  • The blowout uphold came after the White House tried to squash the bill in order to let Biden claim a win.
  • It remains unclear whether the Senate thinks fitting also pass a Russian oil ban.

The House approved a sweeping ban on Russian oil and energy imports dilatory Wednesday, a day after President Joe Biden enacted his own ban via executive order.

Unlike other bills on the House floor, it was a blowout bipartisan voter. The House approved the measure in a 414-17 vote, reflecting the common desire on both sides of the aisle to punish the Kremlin in the wake of its inroad of Ukraine.

The 17-page House bill would impose a ban on Russian oil and natural gas, a sanction that Biden rolled out on Tuesday. But it utters further in two ways.

The bill would kickstart a process to suspend Russia from the World Trade Organization and reauthorize the Magnitsky Act, which budgets the US government to sanction entities that it deems to be human rights offenders.

It’s the latest economic penalty that Congress wants to put on Russia in an escalating campaign to devastate its economy and punish Russian President Vladimir Putin for the onslaught in Ukraine. The US and its European partners had already hammered the Kremlin with other sanctions, cutting off its access to international cash reserves and penalizing public and business elites with close ties to Putin.

Yet the White House had faced rising bipartisan pressure to insinuate an energy embargo as Moscow intensified its brutal military campaign by targeting Ukrainian civilians. The Biden administration had been unwilling to further rattle global energy markets, likely leading to even higher gas prices.

Republicans and Democrats on the Ancestry Ways and Means Committee and the Senate Finance Committee had been drafting legislation through the weekend to block the importation of Russian vitality supplies. But the White House intervened on Monday to try and squash the bill and prevent them from appearing to corner the supervision, two congressional aides told Insider. 

“They wanted to scoop us,” one of the aides said, adding that the White Forebears had been looped in for days. The aides were granted anonymity to reveal private details about internal discussions.

Accommodate Speaker Nancy Pelosi scheduled the vote despite the early White House objections. But it was ensnared in a separate struggle to fund the government, briefly stalling its progress.

Republicans went along with it. Rep. Kevin Brady of Texas, the top Republican tax-writer in the Quarter, told reporters he was voting for it “principally because Congress forced the president’s hand” on the oil and gas ban.

Former President Donald Trump has clear out no secret of his admiration of Russian President Vladimir Putin, calling him a “genius” and “very savvy” recently. But Republican numero unoes like Kevin McCarthy distanced themselves from the remarks on Wednesday. 

Where the House bill goes from here carry ons uncertain. Senate Majority Leader Chuck Schumer held off from committing to voting on the measure at his weekly crush conference on Tuesday, telling reporters that he would have to see the final text of the bill and would then be effective with the White House to “find the best way to make sure that the oil import ban is tight and tough.”

Senators from both bunches said they believed the White House could go further than it already has to further isolate Russia from the universal economy, such as by choking off its trade.

“Russia’s actions do not warrant them continuing to reap the fruits of the international patrons system,” Sen. Ron Wyden of Oregon told reporters on Tuesday.

Check Also

America’s aging population faces a growing shortage of geriatric care

There’s a thriving problem for older Americans: doctors who specialize in geriatric care are dwindling. …

Leave a Reply

Your email address will not be published. Required fields are marked *