The American oil and gas business has stated its support for US President Biden’s plan to prohibit Russian oil, natural gas, and coal imports into the United States.

Also read: Did NATO’s no-fly refusal against Russia dampen Ukraine’s membership wish?

“Our industry is prepared to comply with the import ban in response to this aggression,” Mike Sommers, president and CEO of the influential American Petroleum Institute, commented on Russia’s invasion of Ukraine on Tuesday.

“The industry has already taken significant and meaningful steps to unwind relationships, both with respect to assets in Russia, as well as imports of Russian crude oil and refined products. We share the goal of reducing reliance on foreign energy sources and urge policymakers to advance American energy leadership and expand domestic production to counter Russia’s influence in global energy markets.”

Also read: Premier League suspends deal with Russia’s state TV amid Ukraine crisis

Russia accounts for a modest portion of total energy imports into the United States – roughly 8% last year. The API is the main trade association representing the oil and gas sector in the United States, with members including Exxon Mobil, Chevron, BP, and Shell.

Shell declared earlier on Tuesday that it will cease acquiring Russian crude oil and will exit the Russian energy industry entirely “aligned with new government guidance.”

In his statement on Tuesday, Biden acknowledged the withdrawal of oil and gas corporations from Russia, but admonished them not to use rising oil prices to hike prices and pad profits.

Also read: US bans Russian oil imports over Ukraine invasion: Joe Biden

Sommers told CNN last month that US oil corporations will not seek to profit from Russia’s invasion of Ukraine, claiming that his members want to do what is best for consumers worldwide.

US President Joe Biden placed an embargo on Russian oil imports to the US on Tuesday in response to the invasion of Ukraine. This is the most far-reaching move taken by the Biden administration to punish Russia for invading the European nation.

“We are enforcing the most significant package of economic sanctions in history, and it’s causing significant damage to Russia’s economy,” Biden said.