America Imported Over $6 Billion in Goods From Russia Since Ukraine Invasion
by Kyle Anzalone and Will Porter | August 26, 2022
More than 3,600 ships from Russia have arrived at US ports since February 24, according to statistics cited by the Associated Press. While that is nearly half of the shipments over the same period compared to last year, it still amounts to over $6 billion in imports.
The number of Russian products entering US ports suggests Biden is falling short of his pledge to isolate Moscow's economy. Due to so-called "wind down" periods that allow companies to complete previous deals, some of the goods continue to enter the country long after the White House announced sanctions on those products, including oil and gas. Paradoxically, other Russian imports, such as fertilizer, came at the request of the Biden administration, which has urged American companies to make up for shortages.
And while the White House has seized several luxury yachts owned by rich Russians with loose ties to Russian President Vladimir Putin, the AP found that American and European firms are importing millions of dollars in metal from a Russian company that makes parts for Moscow's fighter jets, highlighting another odd discrepancy in Biden's sanctions campaign.
Despite diplomatic pressure from Washington, other American allies are increasing their economic ties with Russia. Turkey – a NATO member – has doubled its imports of Russian oil this year.
Please go to The Libertarian Institute to continue reading.
The number of Russian products entering US ports suggests Biden is falling short of his pledge to isolate Moscow's economy. Due to so-called "wind down" periods that allow companies to complete previous deals, some of the goods continue to enter the country long after the White House announced sanctions on those products, including oil and gas. Paradoxically, other Russian imports, such as fertilizer, came at the request of the Biden administration, which has urged American companies to make up for shortages.
And while the White House has seized several luxury yachts owned by rich Russians with loose ties to Russian President Vladimir Putin, the AP found that American and European firms are importing millions of dollars in metal from a Russian company that makes parts for Moscow's fighter jets, highlighting another odd discrepancy in Biden's sanctions campaign.
Despite diplomatic pressure from Washington, other American allies are increasing their economic ties with Russia. Turkey – a NATO member – has doubled its imports of Russian oil this year.
Please go to The Libertarian Institute to continue reading.
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