The Biden administration has announced that it will ban imports of Russian oil and natural gas into the United States. This will raise some tricky questions, domestic and geopolitical, beginning with our relationship with the autocratic regime of Nicolás Maduro in Venezuela.
The quantities affected by the new ban on Russian imports are not very large for either side: Russian oil typically accounts for something like 1 percent of U.S. oil consumption and 3 percent of U.S. oil imports, while the United States accounts for about 5 percent of Russian oil exports — not nothing, but not a make-or-break share for either party.
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