US still importing Russian oil despite ban

According to a new report that tracks the flow of fossil fuels from Russia, some Russian oil is still making it to the United States as the war drags on.

The Helsinki-based nonprofit Centre for Research on Energy and Clean Air produced the new report.

India has quickly increased the amount of Russian oil that it buys, and some Indian refineries have been re-exporting refined oil products to both the US and Europe.

The exact amount that has reached the US is unknown, but the report notes that several tankers have come to the US from India since the war began, likely including Russian crude, and more are on the way.

Russian oil now sells for around 30% less than oil from other sources—but because of the huge increase in global oil prices, it’s still making more money than it did last year.

Russia’s finance minister recently went on TV to announce that despite sanctions, the country expected to make as much 14 billion euros more this year than last year, and some of that would go to the “special operation” in Ukraine.

In the first 100 days of the war, Russia earned 93 billion euros from fossil fuel sales, the report says.

The report further said that, If countries can accelerate the move away from fossil fuels in general, it could help counter the impact of the steep rise in oil prices. The EU is ramping up renewable electricity now, and some countries are adding new support to help homes become more efficient and add heat pumps instead of traditional furnaces.

In the US, Biden recently said that he would use the Defense Production Act to speed up the production of solar panels and heat pumps.