President JoeBiden announced a ban on oil and natural gas from Russia, yielding to pressure from Congress to strike at one of Moscow’s remaining economic lifelines as it continues its attacks on Ukraine.
Fearing surging gas prices, the Biden administration had sought to protect certain carve-outs for global energy interests in the penalties it had imposed on Moscow in response to its attack on Ukraine. But those concerns fell by the wayside as bipartisan lawmakers barreled last week toward a law to halt Russian energy imports.
“Putin’s war is already hurting American families at the gas pump,” Biden said. “Since Putin began his military buildup on Ukrainian borders, just since then, the price of gas at the pump in America went up 75 cents.” After news of Biden’s forthcoming announcement, Pelosi told Democrats Tuesday that she would move ahead regardless.
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