New European And American Sanctions: No Ban On US Companies From Buying Russian Crude Oil

The White House said it would not ban US companies from buying Russian oil, "because it would harm American consumers.".

In the sixth day of the conflict between Russia and Ukraine, European and American countries have launched a number of sanctions against Russia, including targeting the Beixi 2 natural gas pipeline and kicking some Russian banks out of the swift system.
Under the continuous tense situation, as a major oil producing country, Russia's crude oil export has been affected, leading to a surge in oil prices. On Tuesday, the U.S. WTI crude oil futures price broke through $109 a barrel, a seven-year high, while oil distribution stood at the $110 level.
Interestingly, within 24 hours after Putin recognized the independence of the eastern Ukraine on February 22, it was the United States and its allies that were frantically buying Russian oil and gas products. The U.S. bought 3.5 million barrels of Russian crude oil, worth $350 million, while other U.S. allies bought $250 million of Russian natural gas, according to Bloomberg. At the same time, the U.S. government said it would consider releasing reserves, while not banning US companies from buying Russian crude oil.