Despite the ongoing sanctions imposed on Moscow over its military intervention in Ukraine, the United States for almost after a year has resumed importing oil from Russia, according to the sources.The US imported 36,800 barrels of Russian oil in October and 9,900 barrels in November 2023, worth $2.7 million and $749,500, respectively, according to the US Energy Information Administration (EIA). The imports were made possible by specific licenses granted by the US Department of the Treasurys Office of Foreign Assets Control (OFAC), which oversees the enforcement of sanctions.The EIA data also reveals that the US paid a premium for the Russian oil, as one barrel cost $74 in October and $76 in November.It is to be noted here that the US officially banned imports of Russian crude oil and petroleum products in April 2022, following the invasion of Ukraine. However, there is no official data suggests a widespread resumption of direct Russian oil imports to the US.Some reports indicate minimal purchases of refined products in late 2023, but these figures are insignificant compared to pre-sanction levels and might not violate current restrictions.Political and Economic ContextThe war in Ukraine and high energy prices continue to be major concerns. Some argue that resuming Russian oil imports could offer temporary relief, but potentially undermine Western pressure on Russia and raise ethical concerns. Though, domestic US politics also play an important role.Although, the reasons behind the US decision to resume importing Russian oil are unclear, some people who are known to the subject have speculated that it could be related to the global energy crisis, the geopolitical tensions with China, or the diplomatic efforts to resolve the Ukraine conflict.
