US bans Russian oil, gas

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The move to ban imports from Russia is seen as a support to war-torn Ukraine….reports Asian Lite News

The US on Tuesday banned all oil and gas imports from Russia, President Joe Biden said in a Twitter post.

“Today, I’m announcing that the United States is targeting a main artery of Russia’s economy. We are banning all imports of Russian oil and gas,” he tweeted.

The move to ban imports from Russia is seen as a support to war-torn Ukraine.

In another tweet, Biden said that Americans have rallied to support the people of Ukraine and made it clear that the country will not be part of subsidising Russian President Vladimir Putin’s war.

“This decision today is not without costs here at home. Putin’s war is already hurting American families at the pump — and this will drive up costs further. So, I will take every step we can to minimise Putin’s price hike here at home,” Biden said.

Separately, the US has already announced a collective release of 60 million barrels of oil from the strategic petroleum reserves of the US and its partners. Half of the strategic reserves will come from the US.

“We’re taking steps to ensure a reliable supply of global energy. And we’re going to keep working with every tool at our disposal to protect American families and businesses,” Biden said.

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