Commentary
President Biden’s latest effort to impose a cordon upon the Russian economy and place pressure upon the regime of President Vladimir Putin comes in the form of executive order 14066, which blocks the import of all Russian crude oil, petroleum, petroleum fuel, oil derivatives, liquefied natural gas, coal, and coal products. In 2021, the United States purchased approximately 670,000 barrels of petroleum per day from the Russian Federation, representing 8 percent of our total petroleum imports.
