US wants to sanction China for Russian fuel imports: Bill proposed
27 Jul 2022 06:50pm
US Republican senator, Marco Rubio says China's imports of Russian fuel supports Moscow's military operation in Ukraine. - AFP pic
MOSCOW - A US Republican senator, Marco Rubio, has proposed a bill to impose sanctions against any entity for providing insurance or registration of tankers shipping oil or liquefied natural gas from Russia to China, Sputnik reported, quoting a Bloomberg report on Wednesday.
According to Rubio, China's imports of Russian fuel supports Moscow's military operation in Ukraine.
The bill was supported by Kevin Cramer, a senator from North Dakota and Rick Scott, a senator from Florida. However, the proposal contradicts President Joe Biden's administration policy and is likely to face difficulties in the Democratic-controlled Senate.
A halt in Russian fuel supply could push China to compete with other large buyers for the oil from the Middle East and Africa which could lead to a surge in prices.
Western countries have been discussing different measures that could limit Russia's revenues from gas and oil exports.
The West has not yet succeeded in this either by imposing an oil embargo including one by the EU member states on sea shipments or by the voluntary refusal of foreign companies to purchase Russian fuel. Export redirection and alternative supply chains allow Russia to generate income even while selling at a discount.
Against this background, on June 28 the G7 countries announced that they had agreed to consider the possibility of a comprehensive ban on the transportation of Russian oil and refined products by sea worldwide, if the fuel is not purchased at the price that should be agreed in consultation with international partners or lower. - Bernama
