Washington. US President Joe Biden announced on Tuesday that the US will ban all oil imports from Russia, with the intention of further weakening its economy in response to Russia’s attack on Ukraine. but he acknowledged that it would increase costs for Americans, especially gas pumps.
The action comes after Ukrainian President Volodymyr Zelensky appealed to the US and Western authorities to cut imports.
“We’re moving forward with this ban understanding that many of our European allies and partners may not be in a position to join us,” US President Joe Biden said pic.twitter.com/X8nFF4JOhr
— ANI (@ANI) March 8, 2022
Oil exports have kept cash flows steady despite severe sanctions on Russia’s financial sector. “We will not be part of Putin’s war ‘subsidy’,” Biden declared.
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He described the new action as a “strong blow” against Russia raising funds for the ongoing war. He said that Americans would face rising prices, protecting liberties would be costly.
Biden said the US was working in consultation with European allies, which are more dependent on Russian energy supplies. (agency)