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US bans Russian oil imports as Joe Biden warns of 'costs'
Updated On: 08 March, 2022 10:30 PM IST | Washington | AP
`We will not be part of subsidising 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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Joe Biden. File Pic
President Joe Biden announced that the US 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 US 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.
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