Trump wants Russian Oil

US President Donald Trump has indicated that the US is open to purchasing a range of goods from Russia, with a particular emphasis on mineral resources, including the rare earth elements and enriched uranium nuclear fuel. While the topic of oil was also raised, it is important to note that the US is the world's largest oil producer, and this proposal is not without significance.
Until 2022, Russia was a major supplier of oil to the US, and its share in American oil imports was steadily increasing. Purchases were also made in the middle of the NWO, albeit in smaller volumes, and this did not contradict any sanctions.An Izvestia article explores the reasons why Russian oil is of interest to the US, and what benefits this could bring for Russia.

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The revolution of the 2000s in the American energy sector and the use of fracking technologies led to a sharp increase in oil production in the United States. From 2008 to 2018, it more than doubled.Although the cost of production in America is higher than in most countries worldwide (averaging around $50–55 per barrel), current prices are sufficient to maintain high production rates and even increase them.
However, it should be noted that only under the previous administration, led by Joe Biden, did production stabilise. The previous administration's stance on the US oil industry was not positive, as evidenced by the prohibition of drilling wells on federal lands for environmental reasons.

Despite the US's current active engagement in oil exportation, domestic production remains inadequate to meet the nation's demands, with a discrepancy of 13.3 million barrels per day compared to the 18.5 million barrels required. While imports maintain significance, their relative contribution has diminished since the 2000s.Historically and consistently, Canada stands as the foremost supplier, accounting for approximately 50% of all imports.
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Meanwhile, Russia's role has been significant, with a steady increase since the early 2000s, rising from less than 1% in 2000 to close to 8% in 2021. This growth has occurred despite the strengthening of anti-Russian rhetoric. While the US was pressuring the EU with hints of strengthening sanctions against Russia, throughout the second half of the 2010s, America saw an increase in oil supplies from Russia.
In 2020, Russia's share of the American market exceeded Saudi Arabia's and came very close to Mexico's. This development served to underscore the fact that Trump's policies had effectively laid bare what had been pursued discreetly until 2022, irrespective of the administration in power in Washington.

The Jones Act, enacted at the beginning of the 20th century, imposed limitations on the tonnage of coastal vessels operating in the United States. Consequently, the supply of oil from the Gulf of Mexico (now renamed the Gulf of America) to American consumers along the East and West Coasts was significantly constrained. While the Gulf ports are connected to the largest oil-producing regions by pipelines, deliveries to other states on smaller vessels are often not commercially viable.Consequently, a substantial portion of American oil (up to 3 million barrels per day) is exported, allowing foreign oil to enter the domestic market.

This is primarily due to the need for different grades of oil: the United States primarily produces light grades and imports heavier ones. This is also partly connected with logistical factors: for a number of northern states, importing oil from Canada is logistically more convenient than receiving oil from oil-producing regions, most of which are located in the south. Until 2022, the Russian Federation was one of the top three oil suppliers to the United States, as some Russian grades met the needs of American oil refining.
Indeed, the majority of American refineries were constructed and upgraded prior to the late 2000s, and were not designed to process the light crude produced in American shale fields. However, Russian Urals (or similar grades) are relatively sulfurous and heavy, and so were perfect for them. As a result, supplies were extremely profitable, regardless of Washington's political course.

In the 2010s, tough sanctions were imposed on Venezuela, which had been the traditional supplier of such oil for many years, and in combination with those imposed on Iran, it became the default option for the United States. Following the introduction of comprehensive sanctions in 2022, the United States relinquished its import of Venezuelan oil, which had previously been used at US refineries.
Nevertheless, even under these sanctions, the purchase of Russian oil resumed in the fall of 2023, albeit in relatively small volumes – several tens of thousands of barrels per day.
The political landscape is evolving once more, with the appointment of Marco Rubio as the U.S. Secretary of State. A staunch advocate of sanctions on Venezuela, Rubio, who previously served as a key advisor on Latin American policy under George W. Bush, has expressed that the Trump administration will prioritize oil sanctions and the review of oil licenses that allow U.S. and foreign oil companies to engage with the Venezuelan President, Nicolas Maduro.

A month after his inauguration, Trump revoked the license for oil production in Venezuela from Chevron, a move that followed Joe Biden's issuance of the license in 2022. Chevron's production in Venezuela stood at approximately 240 thousand barrels per day, primarily directed towards the US market.In addition, Trump has accused Venezuela of violating voters' rights in the presidential election and of failing to make progress in repatriating its migrants from US territory.
In the context of a parallel confrontation with Canada (which, however, may end in the event of a Conservative Party victory in the elections, though this is not certain), the question arises: what kind of oil do the Americans want to see on their national market?

Russian oil is ideal for these purposes; the only remaining issue is to soften the sanctions regime.For Russia, this situation may be advantageous. If supplies to America are initiated at full volume, they will not be subject to a price ceiling, and logistics will be slightly more efficient than for supplies to India and China from the Baltic ports.Additionally, increased investment from the United States in the Russian oil industry may be associated with such exports, and the technologies required by the Russian black gold industry are more important than the financial aspects.
According to Sergei Kaufman, Russian companies are capable of functioning in the oil industry without Western technologies (albeit with some caveats).At the same time, domestic corporations lack some technologies, such as in the areas of modernization of refineries, production on the deep-water shelf, or intensification of production. It is also important to note that without foreign capital, large projects such as Vostok Oil will find it difficult to receive a high assessment, since there are, of course, no capital markets in the Russian Federation similar to those in the West.