With support from Congressional Democrats and Republicans both, President Biden announces ban on Russian oil imports

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‘Bipartisan’ doesn’t necessarily translate to ‘popular’ with the general public, but of course banning Russian oil imports is the right move to make at this time. It is a move that is ultimately going to cost President Biden and the members of Congress from both parties politically. At the end of the day the American people care nothing about Ukraine’s plight and only about their ‘right’ to have perpetually cheap oil. Paying more at the pump is painful and I’ve felt that pain, but the amount of whining I’m seeing everywhere given the circumstances is just too much. Americans are not getting pinched as Europeans are, but one wouldn't know it from listening to an average American talk. Far from perfect, but my eyes continue to be opened to how absolutely awful human nature really is – particularly when the group of humans in question have largely been exceptionally privileged and wealthy by historical standards. #StandWithUkraine  -

WASHINGTON (AP) — Striking harder at Russia’s economy, President Joe Biden on Tuesday ordered a ban on Russian oil imports in retaliation for Vladimir Putin’s onslaught in Ukraine. The major trade action, responding to the pleas of Ukraine’s embattled leader, thrust the U.S. out front as Western nations seek to halt Putin’s invasion. 

Americans will feel pain, too – at the gas pump – Biden acknowledged, declaring, “Defending freedom is going to cost.” 

The imports have been a glaring omission in the massive sanctions put in place on Russia over the invasion. Energy exports have kept a steady stream of cash flowing to Russia despite otherwise severe restrictions on its financial sector. 

“We will not be part of subsidizing Putin’s war,” Biden said, calling the new action a “powerful blow” against Russia’s ability to fund the ongoing offensive.  

Biden said the U.S. was acting in close consultation with European allies, who are more dependent on Russian energy supplies and who he acknowledged may not be able to join in immediately. The announcement marked the latest Biden attempt at cutting off Russia from much of the global economy and ensuring that the Ukraine invasion is a strategic loss for Putin, even if he manages to seize territory. 

“Ukraine will never be a victory for Putin,” Biden said. 

Ukrainian President Volodymyr Zelenskyy in a tweet praised Biden’s action: “Thankful for US and @POTUS personal leadership in striking in the heart of Putin’s war machine and banning oil, gas and coal from US market. Encourage other countries and leaders to follow.” 

The European Union this week will commit to phasing out its reliance on Russia for energy needs as soon as possible, but filling the void without crippling EU economies will likely take some time. The U.K., which is no longer part of the EU, announced Tuesday that oil and oil products from Russia will be phased out by the end of the year. 

Unlike the U.S., which is a major oil and gas producer, Europe relies on imports for 90% of its gas and 97% of its oil products. Russia supplies 40% of Europe’s gas and a quarter of its oil. The U.S. does not import Russian natural gas. (Read more)

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