On Tuesday,ordered an immediate ban on oil in response to Vladimir ‘s attack on Ukraine. The huge decision, in response to the demands of leader, pushed the . out front as Western nations attempt to stop ‘s invasion, a report said.
Americans are going to feel the pain at the pump as well,admitted, declaring that “Defending is going to .”
Exports ofhave maintained steady cash flow to despite the severe restrictions placed on its financial sector.
The announcement was the most recent attempt of the. government to block from the and ensure that the Ukraine invasion will be a loss for even if he takes over the territory.
The oil sanctions issue has conflicted the president between political interests at home and attempts to imposeon . Although oil comprises a small percentage of . , has indicated that he was reluctant to bar it, reducing the supply here and pushing 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.