Biden bans Russian energy imports over Putin's Ukraine invasion
Brent crude, the global standard, jumped over 7% to nearly $132 a barrel
By Arghyadeep Dutta
Published - Mar 08, 2022, 05:37 PM ET
Last Updated - Feb 20, 2024, 01:11 PM EST
• President Biden will sign an executive order
• US government’s decision was a unilateral move, without support from EU
President Joe Biden on Tuesday announced that the U.S. will ban oil imports from Russia, along with natural gas and coal, in response to the Russian invasion of Ukraine.
“Today, I am announcing the United States is targeting the main artery of Russia’s economy. We’re banning all imports of Russian oil and gas and energy,” Biden said at the White House.
