President Joe Biden will announce a ban on the U.S. import of Russian energy, in the latest effort to ratchet up sanctions over Russia’s invasion of Ukraine, according to reports.
Sources close to the president told news outlets the the ban on Russian energy will include crude oil, natural gas and coal.
The prices of oil on indices around the globe have skyrocketed since the Russian invasion of Ukraine and the global effort to sanction the regime of Vladimir Putin.
According to CNN, the US will make the move unilaterally, without its European allies, “due to disagreement among European nations about whether to ban Russian energy imports. EU countries have significantly more exposure to Russian energy than the US.”
Although Americans are wary of rising gas prices, the U.S. economy remains in a strong position. Rising domestic political pressure seems to have forced the hand of the President to make the decision.
Biden is expected to address the new steps this morning in remarks from the White House.
Axios reported this week that President Biden’s advisers are discussing a possible visit to Saudi Arabia this spring “to help repair relations and convince the Kingdom to pump more oil.”
