Prohibiting Certain Imports and New Investments Regarding Russia

Mar 10, 2022

Summary

Stops the U.S. from buying Russian oil, gas, and coal and stops new American investments in Russia's energy sector to punish Russia for its war in Ukraine.

What problem does this solve?

Russia's war against Ukraine threatens peace and American national security. This order puts economic pressure on Russia by blocking its energy sales to the U.S. and stopping new American money from going into its energy industry.

What does this order do?

Bans Russian energy imports

Prohibits bringing Russian crude oil, petroleum, liquefied natural gas, coal, and coal products into the United States.

Prohibits new investment in Russia's energy sector

Forbids any American person or company from making new investments in the energy industry inside the Russian Federation.

Stops Americans from helping foreigners with banned deals

Prevents any U.S. person from approving, financing, or helping a foreign person with a transaction that would be illegal if done by an American.

Expands the national emergency

Increases the scope of the national emergency declared in Executive Order 14024, stating that Russia's war against Ukraine is an extraordinary threat to U.S. national security.

Forbids trying to get around the rules

Makes it illegal to evade, avoid, or attempt to violate any of the prohibitions set forth in the order.

Who does this affect?

Russian energy sector
U.S. energy companies
American consumers

What is the real world impact?

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Applies economic pressure on Russia

Aims to weaken Russia's ability to fund its war in Ukraine by cutting off a major source of income from energy sales to the United States.

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Shows support for Ukraine

Acts as a strong statement of support for Ukraine's independence and a condemnation of Russia's actions on the world stage.

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May increase domestic energy prices

Banning a major source of oil and gas could lead to higher fuel prices for American consumers, as it reduces the global supply.

When does this start?

This order takes effect immediately as of March 8, 2022.