Source: Biden to block Russian oil imports

President Biden has decided to ban Russian oil imports in a move to toughen sanctions against Russia for its invasion of Ukraine. Gasoline prices have risen steadily the past few weeks in anticipation of the move.

By

National News

March 8, 2022 - 9:23 AM

WASHINGTON (AP) — President Joe Biden has decided to ban Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter.

The move 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 influx of cash flowing to Russia despite otherwise severe restrictions on its financial sector.

Biden was set to announce the move as soon as Tuesday, the person said, speaking on condition of anonymity to discuss the matter before his remarks. The White House said Biden would announce “actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine.”

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