“We are united with our allies and partners in working together to reduce our collective dependence on Russian energy and keep the pressure mounting on Putin, while at the same taking active steps to limit impacts on global energy markets and protect our own economies,” the statement said."

"The US has banned imports of Russian oil, liquefied natural gas and coal in order to deprive Russia of the economic resources it uses to continue the invasion of Ukraine, according to a statement published by the White House.“We are united with our allies and partners in working together to reduce our collective dependence on Russian energy and keep the pressure mounting on Putin, while at the same taking active steps to limit impacts on global energy markets and protect our own economies,” the statement said.  

Last year, the US imported nearly 700,000 barrels of crude oil and refined petroleum products from Russia per day, and the ban on the imports of the given products into the US will deprive Russia of billions of dollars in revenues from US consumers annually.

In addition, new US investments in Russia’s energy sector are banned, while US citizens are also prohibited from financing or enabling foreign companies that are making investments to produce energy in Russia.