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U.S. Bans All Russian Oil Imports

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On Tuesday, President Joe Biden ordered an immediate ban on Russian oil imports in response to Vladimir Putin‘s attack on Ukraine. The huge decision, in response to the demands of Ukraine’s leader, pushed the U.S. out front as Western nations attempt to stop Russia‘s invasion, a report said.

Americans are going to feel the pain at the pump as well, Biden admitted, declaring that “Defending freedom is going to cost.”

Exports of energy have maintained steady cash flow to Russia despite the severe restrictions placed on its financial sector.

The announcement was the most recent attempt of the U.S. government to block Russia from the global economy and ensure that the Ukraine invasion will be a loss for Putin even if he takes over the territory.

The oil sanctions issue has conflicted the president between political interests at home and attempts to impose costs on Russia. Although Russian oil comprises a small percentage of U.S. imports, Biden has indicated that he was reluctant to bar it, reducing the supply here and pushing gasoline prices up.

The White House said the ban on new purchases was in effect immediately. However, the administration will allow a 45-day “wind-down” for continuous delivery under contracts in place.

This story originally appeared on the Associated Press News.

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Modern Campground

Modern Campground

Modern Campground is the most innovative news source in the Outdoor Hospitality industry. We provide global news coverage for RV Park and Campground owners, operators, managers, and their team members.
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