US Sanctions on Venezuelan Oil Result in the Tripling of Imports From Russia

2014-2015 the US did not import a drop of Russian oil

Editor’s note: Numbers involved are small but I think the symbolism is important in showing the limits of America’s coercive-economic power. Even the US can’t sanction everyone at once as much as it would want to.

Petroleum exports from Russia to the U.S. are growing rapidly as the supplier takes advantage of lost deliveries from sanctions-hit Venezuela and supply cuts by OPEC members.

In the first half of May, 13 ships from Russia delivered almost 5 million barrels of crude and oil products, according to a report by Caracas Capital Markets managing partner Russ Dallen. More supplies are en route, with American refiners set to triple their monthly intake of Russian crude, the largest foreign producer outside of OPEC. “Lately, Russian shipments coming to the U.S. seem to be on steroids.”

2014-2015 the US did not import a drop of Russian oil. In 2018 it was 7.5 million barrels, or 5.5 percent of the 137 million total imports. 

Through February, U.S. buyers received over16 million barrels of crude and products, compared about 20 million for the same period last year. For all of 2018, shipments were about 137 million, according to EIA data.

Source: Bloomberg

  1. skinner15 says

    Russia should suffer the losses, and tell the US to go sing for its oil.

    And tell the US to spend on a rocket to take their fat lardy asses to space.

    1. jm74 says

      That would be the honourable thing to do but Russia considers it is better that they pocket the money than say another country. It does seem that Russia has more interest in making money though.

  2. JustPassingThrough says

    wait, i thought the murikans were energy independent?
    isn’t that what pompous p. said the other week?

  3. Hue Smith says

    The Yanks are just, full of crap, hypocrites! What about the shipments of Russian LPG that they cried for last winter so that New York and Boston wouldn’t freeze to death! Let those parasites freeze next time!

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