The US plans to `untie` Venezuela and Iran's oil after the Russian oil embargo 0
(Dan Tri) – US President Joe Biden’s administration is promoting efforts to find new sources of oil supply to lower global oil prices, after sanctions against Russia are strongly affecting the world.
An employee stands in front of an energy mining area at Yugra in Western Siberia (Illustration: Tass).
After Russia launched its military campaign in Ukraine on February 24, the West began to consider options to put maximum pressure on Russia, in which the plan to target Moscow’s energy industry is considered
In recent days, fuel prices have continuously exceeded their peak as the West imposed sanctions on Russia, affecting the world’s recovery prospects after the Covid-19 pandemic.
Faced with this situation, the US government faces a difficult problem of finding an alternative supply source to Russia to stabilize the market, and Washington is considered to be looking towards oil-rich countries that are still embargoed such as Venezuela and Iran.
Over the weekend, representatives of the Biden administration traveled to Venezuela to discuss the possibility of allowing Caracas to sell its oil on the international market, helping to replace Russian fuel.
America’s efforts to reach Venezuela and Iran show that Russia’s military campaign has had a strong impact on the world.
The task is not easy
The West’s immediate ban on Russian oil and gas could give the world a severe `shock`.
Russia normally exports an average of 5 million barrels of crude oil per day, nearly half of which goes to Europe.
According to observers, the Biden administration’s efforts to find alternative sources of oil, even from countries that do not have good bilateral relations with the US, shows the determination of the head of the White House to work.
However, whether the Biden administration’s efforts will be successful or not is still an open question.
The US is in the middle of the `difficult problem` of ensuring sanctions can put pressure on Russia, but do not hurt their own market and middle class, as well as Europe – the dependent party.
