Senate passes ban on Russian oil and gas imports

Senate passes ban on Russian oil and gas imports


Rail wagons for oil, fuel and liquefied gas cargo stand in sidings at Yanichkino railway station, close to the Gazprom Neft PJSC Moscow refinery in Moscow, Russia, on Monday, April 27, 2020.

Andrey Rudakov | Bloomberg | Getty Images

WASHINGTON — The Senate on Thursday passed a bill to ban imports of oil and gas from Russia, the latest measure in the U.S. governmentwide effort to economically isolate and penalize the Kremlin for its unprovoked invasion of Ukraine.

The legislation, passed in a 100-0 vote, prohibits the importation of oil, gas, coal and other energy products from Russia. It comes nearly a month after President Joe Biden signed an executive order that mandated essentially the same steps.

The Senate bill codifies Biden’s order into law, making it far more difficult for a future president to reverse it. The legislation passed after having been bogged down in the Senate for weeks.

The oil import ban passed immediately after the unanimous Senate approval of a bill to revoke Russia’s permanent normal trade relations with the United States, often referred to as “most favored nation” status. The legislation would also sever the normal trade relationship with Belarus, a key Russian ally.

“This package is about bringing every tool of economic pressure to bear on Vladimir Putin and his oligarch cronies,” said Sen. Ron Wyden, D-Ore., in a statement on the measures.

CNBC Politics

Read more of CNBC’s politics coverage:

“Putin’s Russia does not deserve to be a part of the economic order that has existed since the end of World War II,” he said.

Both the oil ban bill and the trade status legislation are expected to get votes in the House later in the day Thursday. They are expected to pass with overwhelming majorities.

This is breaking news. Please check back for updates.



Source

European markets open higher as mining stocks rebound sharply amid new U.S.-China trade spat
World

European markets open higher as mining stocks rebound sharply amid new U.S.-China trade spat

Chinese President Xi Jinping and U.S. President Donald Trump. Dan Kitwoodnicholas Kamm | Afp | Getty Images LONDON — European stocks opened higher on Monday, with mining stocks rebounding as traders kept a close eye on a new trade dispute brewing between the U.S. and China. The pan-European Stoxx 600 was up 0.6% at 8:30 […]

Read More
China September exports beat expectations, imports rise at fastest pace since April 2024
World

China September exports beat expectations, imports rise at fastest pace since April 2024

A cargo ship carries foreign trade containers on the Jiaozhou Bay waterway in Qingdao, Shandong Province, China, on August 5, 2025. Costfoto | Nurphoto | Getty Images China’s exports climbed at the fastest pace in six months in September, while imports logged their strongest gain in more than a year, even as a trade deal […]

Read More
Hamas releases first Israeli hostages under Trump-brokered ceasefire as leaders head to Egypt for Gaza peace talks
World

Hamas releases first Israeli hostages under Trump-brokered ceasefire as leaders head to Egypt for Gaza peace talks

Israeli military helicopters wait in preparation to take hostages released by Hamas in Gaza to hospitals in Israel after they arrive in the southern Reim army base on October 13, 2025. Maya Levin | Afp | Getty Images BAGHDAD — Palestinian militant group Hamas released the first seven surviving Israeli hostages on Monday, marking the […]

Read More