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Biden: There is Enough Petroleum to Reduce Amount Purchased from Iran

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu//File Photo
China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu//File Photo
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Biden: There is Enough Petroleum to Reduce Amount Purchased from Iran

China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu//File Photo
China National Petroleum Corporation (CNPC)'s Dalian Petrochemical Corp refinery is seen near the downtown of Dalian in Liaoning province, China July 17, 2018. REUTERS/Chen Aizhu//File Photo

US President Joe Biden said in a memo to the US State Department on Friday that there were sufficient supplies of petroleum so other countries can reduce what they buy from Iran.

Reuters said that the White House is required to affirm every six months that there is enough oil supply globally to maintain sanctions against Iran that were put in place in 2012, during Barack Obama's administration.

Biden's statement comes in advance of a virtual meeting with China's President Xi Jinping on Monday, in what is expected to be the leaders' most extensive meeting since Biden took office.

China is the largest purchaser of Iranian oil, averaging purchases of more than 500,000 barrels a day over the last three months.

Chinese purchases of Iranian crude have continued this year despite sanctions that, if enforced, would allow Washington to cut off those who violate them from the US economy.

The Biden administration is currently not enforcing those sanctions ahead of forthcoming negotiations with Iran to revive a 2015 nuclear deal that would let that nation sell its oil openly again.

"Consistent with prior determinations, there is a sufficient supply of petroleum and petroleum products from countries other than Iran to permit a significant reduction in the volume of petroleum and petroleum products purchased from Iran by or through foreign financial institutions," Biden said in the memo.

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Rutte: Russian Victory Over Ukraine Would Have Costly Impact on NATO's Credibility

NATO Secretary General Mark Rutte gives a joint press conference with Finland's president and Estonia's prime minister during the Baltic Sea NATO Allies Summit in Helsinki, Finland, 14 January 2025. EPA/KIMMO BRANDT
NATO Secretary General Mark Rutte gives a joint press conference with Finland's president and Estonia's prime minister during the Baltic Sea NATO Allies Summit in Helsinki, Finland, 14 January 2025. EPA/KIMMO BRANDT
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Rutte: Russian Victory Over Ukraine Would Have Costly Impact on NATO's Credibility

NATO Secretary General Mark Rutte gives a joint press conference with Finland's president and Estonia's prime minister during the Baltic Sea NATO Allies Summit in Helsinki, Finland, 14 January 2025. EPA/KIMMO BRANDT
NATO Secretary General Mark Rutte gives a joint press conference with Finland's president and Estonia's prime minister during the Baltic Sea NATO Allies Summit in Helsinki, Finland, 14 January 2025. EPA/KIMMO BRANDT

NATO Secretary-General Mark Rutte warned on Thursday that a Russian victory over Ukraine would undermine the dissuasive force of the world’s biggest military alliance and that its credibility could cost trillions to restore.
NATO has been ramping up its forces along its eastern flank with Russia, Belarus and Ukraine, deploying thousands of troops and equipment to deter Moscow from expanding its war into the territory of any of the organization’s 32 member countries.
“If Ukraine loses then to restore the deterrence of the rest of NATO again, it will be a much, much higher price than what we are contemplating at this moment in terms of ramping up our spending and ramping up our industrial production,” the Associated Press quoted Rutte as saying.
“It will not be billions extra; it will be trillions extra,” he said, on the sidelines of the World Economic Forum in Davos, Switzerland.
Rutte insisted that Ukraine’s Western backers must “step up and not scale back the support” they are providing to the country, almost three years after Russia’s full-fledged invasion began.
“We have to change the trajectory of the war,” Rutte said, adding that the West “cannot allow in the 21st century that one country invades another country and tries to colonize it."
"We are beyond those days,” he said.
Anxiety in Europe is mounting that US President Donald Trump might seek to quickly end the war in talks with Russian President Vladimir Putin on terms that are unfavorable to Ukraine, but Rutte appeared wary about trying to do things in a hurry.
“If we got a bad deal, it would only mean that we will see the president of Russia high-fiving with the leaders from North Korea, Iran and China and we cannot accept that,” the former Dutch prime minister said. “That would be geopolitically a big, big mistake.”
Polish Foreign Minister Radek Sikorski welcomed Trump's acknowledgement that it must be Russia which should make the first peace moves, but he cautioned that “this is not the Putin that President Trump knew in his first term.”
On Wednesday, Trump threatened to impose stiff taxes, tariffs and sanctions on Moscow if an agreement isn’t reached to end the war, but that warning will probably fall on deaf ears in the Kremlin. Russia's economy is already weighed down by a multitude of US and European sanctions.
Sikorksi warned that Putin should not be put at the center of the world stage over Ukraine.
“The president of the United States is the leader of the free world. Vladimir Putin is an outcast and an indicted war criminal for stealing Ukrainian children,” Sikorski said.
"I would suggest that Putin has to earn the summit, that if he gets it early, it elevates him beyond his, significance and gives him the wrong idea about the trajectory of this,” he said.