President Joe Biden has announced that Russian oil is being banned in the United States.
After continued pressure, Biden is banning imports of Russian oil and natural gas, with gas prices set to go higher than the current record of $4.16 a gallon.
Vladimir Putin warns barrels of oil will reach $300, with Biden urging American citizens to conserve fuel.
This energy import ban will be imposed by the US alone, with no European allies following suit yet.
"We're banning all imports of Russian oil and gas and energy"
President Joe Biden says the United States is "targeting the main artery of Russia's economy," adding "we will not be part of subsidising Putin's war" https://t.co/2hoYNmxA2q pic.twitter.com/41g76kQ7px
— BBC News (World) (@BBCWorld) March 8, 2022
As we are all aware, domestic gas prices have skyrocketed since Russia invaded Ukraine in late February. The crisis has caused gas prices to reach a nationwide average of $4.17 per gallon.
Pressures have been building since late last month, when Vladimir Putin ordered a bloody and unprovoked invasion on Ukraine. European allies of the US, who rely more heavily on Russia’s energy exports, are reportedly not following suit with the ban but were informed by US officials.
Bidens’ decision follows Putin’s threats to shut down Russia’s gas pipeline to Europe in response to boycott his countries energy exports – resulting in a price increase of crude oil to a eye-watering $300 a barrel.