Western Countries Considering the Ban of The Russian Oil Imports Amid the Russian- Ukraine Conflict

 The Russian invasion is one of the biggest attacks on any European state after World War 2. This attack is rooting the fear of even wider conflict in the western nations which is being avoided for decades. 

"This Russian Ukraine conflict has not only affected the mass population of Ukraine but is also affecting the business and oil imports relations of the different nations with Russia. Russia is the second-biggest crude oil exporter after Saudi Arabia. "

The present blog is investigating the possibilities of western countries imposing a ban on oil imports with Russia. This ban on Russian oil imports can lead to doubling the price to $300 a barrel. It is having a direct impact on the economy. The international students and their careers are also influenced by this ban and the conflict between Russia and Ukraine.

Glances of Russia- Ukraine Conflict

• Russia has been perceiving a constant threat from modern Ukraine and has claimed not to feel safe around the nation.

• This war has its root in the Russian annexation of Crimea from Ukraine in 2014.

• This conflict is about the future of Ukraine and its impact on the Russian government. 

• This decision has been taken in order to pressurize the Russian government to stop assaulting the nation of Ukraine. 

• This step of the United States has been supported by around 80% of the Americans which is including Democrats along with the solid majority of Republicans.

• This is one of these strategies to mild the intensified attacks of Russia, killing hundreds of civilians and creating a mass refugee crisis.

• Moscow has been posing imminent danger to the continent which needs to be stopped.

• This step of the United States will also lead to the reduction of a domestic reliance of the Russian government on volatile foreign fossil fuels. The government of Vladimir Putin will face undercutting on a source of revenue with this dramatic step. 

• Approximately 8% of the imports of oil and petroleum products of the US came from Russia as per the Energy Information Administration (EIA). In 2021, imports totaled the equivalent of 245 million barrels or about 672,000 barrels of oil and petroleum products per day. Imports of Russian oil, on the other hand, have been significantly dropping as consumers have abandoned the fuel.

What are the consequences of this ban on Russian oil imports?

• There are possibilities of claustrophobic outcomes for the global market with the rejection of Russian oil.

• One of the direct impacts of this ban of the United States will lead to moving of Russia to sell the oil in other nations such as India or China. However, Russia can have to provide a good discount since fewer buyers have been accepting Russian oil now.

• If this ban leads to the shutting off of Russia from the global market, it can lead to open the doors for other countries such as Venezuela and Iran as sources of oil.

• It is predicted that the ban on Russian oil imports by the United States can have a direct impact on the economy of the United States with no certainty of the duration of this long-lasting impact. 

• Germany, the other biggest buyer of Russian crude oil, has not supported this plan of banning energy imports. This suggests that this ban of the United States it is standing alone in order to protest Russia's invasion of Ukraine.

Global Economy affected by this ban on Russian oil imports

• If the ban on the Russian oil imports sustains by many countries, then it can have a grievous impact on the reduction and disruption of the energy supply on the global scale with the rise in already high commodity prices.

• This ban on Russian oil imports is going to affect the continents and will lead to a great hike in the price of already skyrocketing gasoline and oil prices. This will lead to affect not only the businesses, consumers but also the financial market and global economy.

• The price of the oil can go as higher as $160 or even $300 barrel if the buyers continued shutting down the Russian crude as pointed out by the energy analyst.

Impact on international students with the affected global economy

• A significant impact can be observed with the impact on the global economy with the ban on Russian oil imports initiated by the United States.
• 
  
• This global economy can affect the education system and international students in a significant manner.

• This can lead to the cutting of the budgets which are spent by the governments on different educational programs provided to international students. 

• The funding for the various educational programs offered to the international students with the instruments of international student exchange and study abroad programs will also be reduced leading to poor facilities for the students.

• This ban on the Russian oil import by the United States will crucially affect the relationship between these two nations having a direct impact on the international students of these two nations.

• The partnership and ties with the Universities and colleges will be cut as an outcome of this step of the United States of banning the Russian oil imports.

• The decision of the United States will influence many international students who are based in Russia or the United States for the purpose of education and exploring the different cultures.

This blog has provided an insight into the consequences of the decision of banning Russian oil imports by the United States. This decision is not only having an impact on the prices of oil in the United States but will eventually have an impression on the global economy, businesses, international students along with the financial market. Every step taken by the different nations as a protest or criticism of the step of Russia of attacking Ukraine is going to have a long-lasting impact on the globe. 

=============END