December 16, 2022
US imports of Russian oil increased from about 500 MBbl/d in 2019 to 670 MBbl/d in 2021. Through April 2022, US imports averaged 450 MBbl/d – down 150 MBbl/d compared to the average of the first four months of 2020 and 2021.
President Joe Biden announced on March 8, 2022, that the US will ban imports of oil from Russia, along with refined petroleum products, natural gas and coal.
According to the EIA, in 2021, Russia provided 8% of US imports of crude oil and petroleum products and only 3% of crude oil imports. Canada is the primary source of US petroleum imports representing over half (51%) of all US imports.
Banning Russian oil had minor consequences on U.S. refineries or Russia as the oil destined for the U.S was redirected to other countries.