President Joe Biden is reportedly expected to announce his decision to ban the import of all Russian oil and gas to the United States today.
As CNBC reports:
The U.S. is expected to announce as early as Tuesday that it will ban imports of Russian oil, a person familiar with the matter told CNBC.
The White House and the Department of Energy did not immediately respond to requests for comment. But the White House on Tuesday morning updated President Joe Biden’s schedule for the day to include an announcement of new U.S. actions intended to “hold Russia accountable for its unprovoked and unjustified war on Ukraine.”
It is widely believed that this move will likely drive gas prices to unheard of new highs in the United States in the weeks and months ahead.
This story is developing…