Biden to Announce Ban on Russian Oil

Biden to Announce Ban on Russian Oil

Amid mounting bipartisan pressure, President Joe Biden will announce a ban on Russian oil imports Tuesday morning.

The development comes on the 13th day of ’s unprovoked invasion of . An invasion, which has claimed the lives of thousands of soldiers and civilians and shows no signs of subsiding.

Fox Business reports:

As the war in Ukraine rages on, Americans are facing the surge in gas prices, and the is facing calls from Republicans and Democrats in Congress, as well as Ukrainian President Volodymyr Zelenskyy to ban imports of Russian oil, and increase domestic energy production.

Zelenskyy, on Monday, called for “boycotts” of Russian oil imports to the U.S. and European countries.

And Secretary of State Antony Blinken said Sunday that the administration is speaking with partners and allies “to look, in a coordinated way, at the prospect of banning the import of Russian oil, while making sure there is still an appropriate supply of oil on world markets.”

CNN continues:

The US will 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.

Eastern and Central Europe, in particular, has a problematic dependence on Russian gas.

The expected announcement from the White House follows Shell Oil Company’s pledge this morning to stop buying Russian oil and natural gas. The energy giant found itself under increasing scrutiny for continuing to invest in Russian hydrocarbons after the invasion of Ukraine.

The private and public sector moves will lead to higher prices for Americans at gas pumps nationwide, unless we can increase domestic energy production.

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