President Biden announces ban on imports of Russian oil, "not subsidizing Putin's war"

President Joe Biden announced a US ban on all imports of Russian oil and gas, saying the country will move forward despite many European allies who will not be in a position to do so.
Oil And Gas Industry Photo credit GettyImages

President Joe Biden announced on Tuesday a US ban on all imports of Russian oil and gas, saying the country will move forward despite many European allies who will not be in a position to do so.

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President Biden had explained earlier this week his reluctance to impose energy sanctions at the outset of the conflict two weeks ago, saying that he was trying to "limit the pain the American people are feeling at the gas pump.”

"I said defending freedom is going to cost. It's going to cost us, as well...Republicans and Democrats alike understand that. Republicans and Democrats alike have

Russia is the world's third-largest energy producer, and imports from the country make up about 10% of the United States' gas and oil imports.

"Americans have rallied to support the Ukrainian people and made it clear we will not be part of subsidizing Putin's war," Biden said.

Gas prices have been rising for weeks due to the conflict and in anticipation of potential sanctions on the Russian energy sector. The U.S. national average for a gallon of gasoline soared 45 cents a gallon in the past week and topped $4.06 on Monday, according to auto club AAA.

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Featured Image Photo Credit: peshkov/GettyImages