U.S. Secretary of State Antony Blinken says the United States and its allies are having a "very active discussion" about banning the import of Russian oil and natural gas in the latest escalation of their sanctions in retaliation for its invasion of Ukraine.
Asked about oil and gas imports, Blinken told CNN on Sunday that U.S. President Joe Biden convened a meeting of his National Security Council on the subject the day before. Biden and Western allies have until now held off on sanctions against Russia's lucrative energy industry to avoid blowback on their own economies.
"We are now talking to our European partners and allies to look in a co-ordinated way at the prospect of banning the import of Russian oil while making sure that there is still an appropriate supply of oil on world markets," Blinken said. "That's a very active discussion as we speak."
An expert on transatlantic ties, global security and relations with Russia spoke to CBC's Rosemary Barton Live on Sunday, saying that stopping the flow of Russian oil and gas imports is "really the next and most devastating step we can take."
"This is where certainly the Biden administration has not wanted to go because they're watching the price at the pump and watching, certainly, increased inflation. But that's exactly where they have to go," said Heather Conley, president of the nonpartisan U.S. public policy think-tank the German Marshall Fund.
In the days since the West imposed sanctions on Russia, following the start of the Feb. 24 invasion, ordinary Russians have been feeling the effects — from payment systems that won't operate and problems withdrawing cash to not being able to purchase certain items.
Retail, auto industry take a stand
More companies are suspending operations in Russia, including Apple, Mercedes-Benz, BP, Volkswagen, clothing retailer H&M and furnishings store Ikea.
Major car brands have halted exports of their vehicles, or production in Russia, as is the case for Tokyo; Boeing and Airbus suspended supply of aircraft parts and service to Russian airlines; major Hollywood studios halted their film releases — and the list will likely keep growing.
In the wake of Western sanctions, Aeroflot, Russia's flagship state-owned airline, announced plans to halt all international flights except to Belarus starting on Tuesday.
Russia's financial system suffered yet another blow as MasterCard and Visa announced they were suspending operations in the country.
European Union leader Charles Michel on Sunday denied that economic sanctions against Russia constitute "a war of the EU or NATO against Russia." Russian President Vladimir Putin has linked the West's economic punishment for his invasion of Ukraine to "declaring war" on Moscow.
Michel said European and American allies imposed sanctions "to create pressure and hurt the [Russian] regime," not the people.
