BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

IF you are a Platts Market Center subscriber, to reset your password go to the�Platts Market Center to reset your password.

In this list
Oil

US triggers Russia sanctions that could block crude, product imports

Electric Power | Natural Gas | Oil | Shipping

Market Movers Europe, Oct 22-26: Record low Rhine disrupts commodity flows; Trump gives traders fuel for thought

Oil

Platts Rigs and Drilling Analytical Report (RADAR)

Commodities | Oil | Crude Oil

Platts University New York

Oil

US Republican Senator Graham says would 'sanction the hell out of Saudi Arabia'

US triggers Russia sanctions that could block crude, product imports

Washington — Fresh US sanctions imposed on Russia on Wednesday are not expected to impede energy trades, but a second round of sanctions that the law could trigger after three months would block a vast swath of Russian exports to the US, including crude and oil products.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The US State Department notified Congress on Wednesday that it has determined Russia used chemical or biological weapons during the March poisoning of a former Russian agent and his daughter in the UK.

Under a 1991 law, the determination triggers a set of mandatory sanctions, including terminating arms sales and Russian exports of national security-sensitive goods and technology to the US.

A second, much larger set of sanctions would kick in if the White House determines that Russia has not met certain conditions related to chemical and biological weapons within three months.

That round of penalties "may include petroleum or any petroleum product," according to the legislation.

The US imports more refined oil products than crude oil from Russia. It imported 361,000 b/d of oil products in May, according to the latest Energy Information Administration data. The oil product imports averaged 336,000 b/d in 2017, down from 402,000 b/d in 2016.

The US imported 130,000 b/d of Russian crude in May, the highest monthly average since 165,000 b/d in August 2015. US imports of Russian crude averaged 49,000 b/d in 2017, up from 38,000 b/d in 2016.

"Hopefully we will not get to that point, but that's really [more] a question for Russia than for us," a senior administration official said during a briefing Wednesday.

The law has triggered US sanctions twice before, against Syria and North Korea.

--Meghan Gordon, meghan.gordon@spglobal.com

--Edited by Wendy Wells, newsdesk@spglobal.com