A recent report from Sputnik Globe indicates that the United States has resumed its import of Russian oil, marking the first occurrence in over a year. This decision comes despite the prevailing sanctions imposed on Moscow due to its military intervention in Ukraine.

As reported by the US Energy Information Administration (EIA), the United States imported 36,800 barrels of Russian oil in October and 9,900 barrels in November, with respective values of $2.7 million and $749,500.

These imports were facilitated through specific licenses issued by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), responsible for overseeing the enforcement of sanctions.

According to data from the EIA, the United States incurred a premium for Russian oil, with the cost per barrel reaching $74 in October and $76 in November. This exceeded the established "price cap" of $60 per barrel, collaboratively set by the US, G7 nations, the EU, Switzerland, and Australia in 2022.

The price cap was implemented as part of a coordinated effort to diminish Russia's income from oil exports in response to its actions, including the annexation of Crimea and support for separatists in eastern Ukraine.

In March 2022, the United States implemented a ban on the import of oil, gas, and other energy resources from Russia, coupled with additional sanctions targeting individuals, entities, and sectors in the country. However, the Office of Foreign Assets Control (OFAC) retains the authority to issue licenses for specific transactions prohibited by these sanctions, addressing cases individually.

The rationale behind the recent decision by the US to resume importing Russian oil remains unclear. Speculation from experts suggests potential connections to the global energy crisis, ongoing geopolitical tensions with China, or diplomatic endeavors aimed at resolving the conflict in Ukraine.

The debate sparked on X, as reactions varied from surprise, and skepticism, to criticism of the U.S. decision to resume oil trade with Russia. Users shared diverse interpretations and opinions on the implications of this move.

One user posted, "This constitutes a betrayal of Ukraine and a capitulation to Putin. The U.S. should maintain a steadfast stance on sanctions and uphold support for the democratic aspirations of the Ukrainian people."

Another added, "The U.S. is strategically maneuvering to diminish China's influence on Russia. By providing Russia an avenue to break free from isolation and reliance on China, the U.S. aims to incentivize cooperation on various fronts, including Iran, North Korea, and climate change."

Image source: Hindustan Times