No images? Click here 9 MarchBiden bans Putin’s most lucrative exportToday, President Joe Biden announced, “We’re banning all imports of Russian oil and gas and energy." As Russia’s most lucrative export, this is in direct response to the pleas from Ukrainian President Zelensky to US Congress over the weekend. While other requests like declaring a no-fly zone over Ukraine have fallen flat, the energy ban by the United States happened quickly and is prompting the UK and others to follow suit. Although, as discussed in By the numbers below, this is far harder in Europe because their dependence on Russian oil and gas is so much greater. NATO and other US allies are treading carefully, attempting to convince Putin to put an end to the war without triggering any further international escalation. As United States Studies Centre Non-Resident Senior Fellow Stephen Loosley said in our webinar yesterday, “We need to be very careful to avoid a kind of incident that could lead to a full-blown war between the NATO alliance and Russia.” The events echo what we examine in our upcoming report ‘State of the United States: Biden’s agenda in the balance’, highlighting that as Biden faces dwindling approval ratings at home, he is also under tremendous pressure to stand up to Putin without risking American lives. To make sure you don’t miss the report when it launches next week, sign up to receive our research notifications here. NEWS WRAPOil ban sends petrol prices soaring
We will defend every inch of NATO territory if it comes under attack…No one should doubt our readiness. No one should doubt our resolve. CONFERENCE LIVESTREAM | 16 March Launch of USSC's second annual publication, State of the United States: Biden's agenda in the balanceThe United States Studies Centre invites you to a livestream event (via Zoom) for the launch of its second annual publication, State of the United States: The Biden agenda in the balance. Entering year three of the COVID pandemic, President Biden grapples with inflation, complex foreign policy challenges arising from the intensification of strategic competition and dwindling approval ratings, all with the November 2022 midterms looming. State of the United States features the latest USSC polling, US policy analysis and impacts for Australia in 2022. The half-day event will feature special guests and panel discussions: Featured speakers
Panel discussants
WHEN: COST: You can also subscribe to have event invitations and reminders sent straight to your inbox, so you never have to miss an event! ANALYSISSouth Korea’s bind between North Korea and US China strategyDr Peter K. Lee South Korea has at times seemed like a lonely reed refusing to sway with the geopolitical winds blowing across Northeast Asia. While the United States and its allies and partners have slowly strengthened cooperation with each other in response to China’s coercion, South Korea under President Moon Jae-in has been more circumspect about its alignment preferences. Moon’s election pledge to create ‘a friendly, peaceful and cooperative environment in Northeast Asia’ may not have come to pass, but he charted his own way through five years of nuclear crises, summitry, trade wars, diplomatic disputes and rising regional tensions. To his supporters, Moon saved the Korean Peninsula from nuclear war in 2017 and achieved detente with North Korea through visionary summits. He preserved the alliance with the United States during the Trump era, repaired relations with China after the THAAD crisis, stood up to Japan, elevated Southeast Asia’s standing, and brought South Korea closer to the dream of self-reliant defence. To his critics, Moon’s engagement with North Korea failed to make any headway on denuclearisation while getting side-tracked by an end-of-war declaration. For his efforts to resume aid and joint projects, he was rewarded with the destruction of the Inter-Korean Liaison Office. His ‘balanced diplomacy’ between the United States and China was excessively deferential to both, rather than principled and firm. Time will tell which of these narratives was more accurate. Like in other countries, the upcoming 9 March presidential election will be largely decided on domestic issues — including the COVID-19 response, small business recovery, housing affordability, income inequality, social polarisation, gender conflicts, as well as the usual personal and family scandals of South Korean politics. This is an excerpt from an article published by The Australian Financial Review BY THE NUMBERSPer cent oil imported from Russia: US 7% | UK 11% | Germany 30% On March 8, President Biden announced an immediate ban of Russian oil and natural gas imports to the United States. The president’s announcement comes amid pressure for Western nations to freeze the Kremlin’s economic resources, especially oil revenues where Russia is the world’s number one supplier. But some of the United States’ European partners have proved a little more reluctant to implement similar measures, with the European Union and the United Kingdom announcing plans to diversify their oil supply away from Russia by the end of the year. While Russian oil compromised seven per cent of total US oil imports in November 2021, Russian oil makes up 34 per cent of total oil imports for OECD Europe, with key allies like the United Kingdom (11 per cent), France (14 per cent) and Germany (30 per cent) more reliant on Russian oil supply. Read more By the numbers analysis here VIDEOIs Russia's invasion of Ukraine a turning point for all US allies or just NATO?In addition to fomenting sweeping international condemnation, Russia’s recent invasion of Ukraine appears to have convinced key US allies in Europe to increase defence spending to levels that US presidents of all political persuasions have requested for decades. How will Russia’s invasion change the US approach to the Indo-Pacific? Should the Australian Government issue a new Defence Strategic Update to factor in involvement with Europe or reduced attention from the United States? To discuss these issues, the United States Studies Centre hosted a webinar featuring USSC Senior Lecturer Dr Gorana Grgic in conversation with Non-Resident Senior Fellow Stephen Loosley AM. Catch more analysis on the United States on the USSC YouTube channel. Manage your email preferences | Forward this email to a friend United States Studies Centre |