API Statement on US Ban of Russian Crude Oil & Refined Products

Source: www.gulfoilandgas.com 3/8/2022, Location: Asia

American Petroleum Institute (API) President and CEO Mike Sommers issued the following statement following an announcement from the White House to ban imports of Russian crude oil and refined products into the United States.

“We support the US government and our allies in their collective efforts against Russia’s unprovoked invasion of Ukraine, and our industry is prepared to comply with the import ban in response to this aggression. The industry has already taken significant and meaningful steps to unwind relationships, both with respect to assets in Russia, as well as imports of Russian crude oil and refined products. We share the goal of reducing reliance on foreign energy sources and urge policymakers to advance American energy leadership and expand domestic production to counter Russia’s influence in global energy markets.”

API represents all segments of America’s natural gas and oil industry, which supports more than 11 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. Its nearly 600 members produce, process and distribute the majority of the nation’s energy, and participate in API Energy Excellence®, which is accelerating environmental and safety progress by fostering new technologies and transparent reporting. API was formed in 1919 as a standards-setting organization and has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.


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