Tesla CEO Elon Musk has said the United States needs to increase oil and gas output “immediately” after Moscow’s invasion of Ukraine, despite admitting it would have a “negative” effect on his electric vehicle company.
“Hate to say it, but we need to increase oil & gas output immediately,” the businessman wrote. “Extraordinary times demand extraordinary measures. Obviously, this would negatively affect Tesla, but sustainable energy solutions cannot react instantaneously to make up for Russian oil & gas exports.”
While the Biden administration has imposed a series of strict economic sanctions on the country targeting everything from its sovereign debt to those in Putin’s inner circle, it has so far said that oil sales are not subject to sanctions.
Despite this, dozens of company’s across the United States and the rest of the world including oil and gas companies, have boycotted Russian businesses and Russian-made products, effectively removing them from shelves.
“The House is currently exploring strong legislation that will further isolate Russia from the global economy,” Pelosi said in a letter. “Our bill would ban the import of Russian oil and energy products into the United States, repeal normal trade relations with Russia and Belarus, and take the first step to deny Russia access to the World Trade Organization.”
Congress also intends to enact $10 billion in aid for Ukraine in response to Russia’s military invasion, Pelosi said.
Elsewhere on Sunday, Musk, who has previously shown support for Ukraine, urged the country to “hold strong.”
Musk, who provided internet to Ukrainians in the wake of the Russian invasion last month via SpaceX’s Starlink, a satellite broadband service, added, “And also my sympathies to the great people of Russia, who do not want this..”