The struggle between Russia and Ukraine is about to enter its second week, and U.S. House Speaker Nancy Pelosi has lastly urged her Democrat colleagues to ban Russian oil and different vitality merchandise from getting into the United States.
Russia started its invasion of Ukraine in late February, however the transport of Russian oil to some western international locations has continued flowing. Many monetary establishments like Visa, Master Card, and American Express have suspended operations with Russia for the reason that struggle started.
Pelosi’s announcement on Sunday evening was coupled with a White House assertion of Ukraine assist whereas additionally urging Congress to stop accepting Russian oil into the U.S.
“The House is currently exploring strong legislation that will further isolate Russia from the global economy,” it learn on Pelosi’s web site. “Our bill would ban the import of Russian oil and energy products into the United States, repeal normal trade relations with Russia and Belarus, and take the first step to deny Russia access to the World Trade Organization. We would also empower the Executive branch to raise tariffs on Russian imports.”
Pelosi went on to say the proposed invoice wouldn’t have an effect on world markets, though fuel costs are approaching all-time highs within the States.
“Let me be clear: the United States need not choose between our democratic values and our economic interests. The Administration and the Congress remain laser-focused on bringing down the higher energy costs for American families and our partners stemming from Putin’s invasion,” Pelosi stated. “We salute President Biden for leading our allies in releasing 60 million barrels of oil from strategic reserves—including 30 million from American reserves in the SPR—to stabilize global markets.”
Pelosi added that her current go to to the Munich Security Conference introduced new concepts to work with the European Union for persevering with diversification of their vitality provide and cut back their dependence on Russian vitality.
“With the West’s carefully coordinated effort to sequence sanctions on Russia and mitigate for the costs of these efforts, we are standing up for our values abroad while protecting our families at home. Again, I commend the Biden Administration for its leadership to unify and strengthen our allies in support of the people of Ukraine.”
Pelosi despatched this memo to her Democratic House colleagues after President Joe Biden has requested $10 billion in humanitarian, navy, and financial help for Ukraine. Congress may vote on this emergency funding request as quickly as this week, however with Biden’s intention of sending no American troops to Ukraine.
“As President Biden has made crystal clear, American troops will not go to war in Ukraine — but our nation can provide military equipment and support our allies who are supplying airplanes to Ukraine,” Pelosi said. “We must also help the one and a half million Ukrainian refugees fleeing their homes and escaping to other nations, which the United Nations has said is the “quickest rising refugee disaster in Europe since World War II.””