$12.00 by July 4th

 

ditz

Biden announces ban on Russian energy imports



(CNN)President Joe Biden on Tuesday announced his administration is banning Russian oil, natural gas and coal imports to the US in response to the Russian invasion of Ukraine, a step he warned could lead to a spike in gas prices at home.

"Today I am announcing the United States is targeting the main artery of Russia's economy. We're banning all imports of Russian oil and gas and energy," Biden said in remarks from the White House. "That means Russian oil will no longer be acceptable at US ports and the American people will deal another powerful blow to Putin's war machine."

Sanctions on Russia's oil and gas industry had once been viewed as mostly off the table as officials in the United States and Europe worried about a global spike in prices. But pressure had been growing on Biden to act, including from Ukraine's President and American lawmakers from both parties, as Russia's onslaught in Ukraine increasingly targets civilians.

Biden acknowledged in frank remarks from the White House the step was likely to lead to higher costs for Americans, a potent political issue that is already leading to attacks from Republicans.
Biden pinned blame for the spike on Russian President Vladimir Putin, calling it "Putin's price hike."

The US expected to make the move unilaterally, without its European allies, due to disagreement among European nations about whether to ban Russian energy imports. EU countries have significantly more exposure to Russian energy than the US. Not long before Biden's announcement, the United Kingdom announced that it planned to phase out Russian oil imports by the end of the year.