WASHINGTON (AP) — President Joe Biden announced Tuesday the U.S. will ban all Russian oil imports , toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, but he acknowledged it will bring costs to Americans, particularly at the gas pump .
Highlights
- President Joe Biden announces a ban on Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine.
- Biden acknowledged it will bring costs to Americans, particularly at the gas pump.
- Action follows pleas by Ukrainian President Volodymyr Zelenskyy to U.S.
- and Western officials to cut off the imports, which had been a glaring omission in the massive sanctions put in place on Russia over the invasion.
- Gas prices have been rising for weeks due to the conflict and in anticipation of potential sanctions on the Russian energy sector.
- Europe relies on imports for 90% of its gas and 97% of oil products, but filling void will likely take some time.