Biden bans Russian oil, warns of ‘Putin price hike’ at pump

President Joe Biden announced the U.S. will ban all Russian oil imports but acknowledged prices will rise at gas pumps.

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National News

March 8, 2022 - 3:08 PM

U.S. President Joe Biden speaks in the Roosevelt Room of the White House March 8, 2022, in Washington, DC. During his remarks, Biden announced a full ban on imports of Russian oil and energy products as an additional step in holding Russia accountable for its invasion of Ukraine. (Win McNamee/Getty Images/TNS)

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.

The 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. Energy exports have kept a steady stream of cash flowing to Russia despite otherwise severe restrictions on its financial sector.

“We will not be part of subsidizing Putin’s war,” Biden declared, calling the new action a “powerful blow” against Russia’s ability to fund the ongoing offensive.

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