President Joe Biden announced Tuesday that the U.S. will target “the main artery of Russia’s economy” by banning the import of Russian energy products.
“We’re banning all imports of Russian oil and gas and energy,” Biden said in remarks from the White House. “That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another powerful blow to Putin’s war machine.”
The president warned that the move would probably increase gas prices in the U.S., but that it was necessary to ramp up sanctions pressure on Russia’s economy for its war on Ukraine.
“Putin’s war is already hurting American families at the gas pump,” Biden said. “I’m going to do everything I can to minimize Putin’s price hike here at home.”
Biden’s language anticipates a concerted Republican effort to blame him directly for the rise in gas prices, which hit a record in the U.S. on Tuesday. With gas prices certain to become a huge political issue in this year’s midterm elections, Biden devoted much of his remarks to focusing American anger directly on Putin, while also encouraging U.S. energy companies to produce more domestic oil.
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The president said the U.S. had decided to ban Russian energy products “in close consultation” with allies around the world, particularly in Europe. He said many of those partners may not be able to take the same action.
“The United States produces far more oil domestically than all of Europe,” said Biden, who said the U.S. is a net exporter of energy. “We can take this step when others cannot, but we’re working closely with Europe and our partners to develop a long-term strategy to reduce their dependence on Russian energy as well.”
The ban on Russian oil and gas has strong bipartisan support in the Congress and in the country.
Americans have rallied to support the people of Ukraine and made it clear we will not be part of subsidizing Putin’s war.
— President Biden (@POTUS) March 8, 2022
The ban on Russian oil and gas has strong bipartisan support in the Congress and in the country.
Americans have rallied to support the people of Ukraine and made it clear we will not be part of subsidizing Putin’s war.
— President Biden (@POTUS) March 8, 2022
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 minimize Putin’s price hike here at home.
— President Biden (@POTUS) March 8, 2022
In coordination with our partners, we have already announced a collective release of 60 million barrels of oil from our Strategic Petroleum Reserves — half of that from the United States.
— President Biden (@POTUS) March 8, 2022
