U.S. leads Western ban on Russian oil

Lower imports put America in better spot to absorb impact than European partners

20220308N russian oil facility REU

An oil treatment plant in Russia's Irkutsk region. Around 3% of U.S. crude imports came from Russia last year, compared with 30% for the European Union. © Reuters

YUKIHIRO SAKAGUCHI and YUSUKE NAKAJIMA, Nikkei staff writers

WASHINGTON/LONDON -- U.S. President Joe Biden's move Tuesday to ban imports of Russian oil targets a crucial source of foreign currency for Moscow, but whether European countries that depend more on Russian energy can follow suit remains unclear.

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