President Biden held a press conference and officially announced that the U.S. is now banning Russian oil imports, as the country’s violent invasion of Ukraine continues. During his speech, President Biden stated that the U.S. will “not be part of subsidizing Putin’s war.”

During his speech from the White House, President Biden stated the following:

“Today I am announcing the United States is targeting the main artery of Russia’s economy. We’re banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be acceptable at US ports and the American people will deal another powerful blow to Putin’s war machine.”

He also acknowledged that the official decision to ban all Russian oil imports will likely continue to hurt American gas prices, as current increases have reached record-breaking levels. “The decision today is not without cost here at home. Putin’s war is already hurting American families at the gas pump. Since Putin began his military build-up at Ukrainian borders, just since then, the price of gas at the pump in America went up 75 cents and with this action it’s going to go up further. I’m going to do everything I can to minimize Putin’s price hike here at home,” he said.

However, President Biden was very clear to distinguish that the current high American gas prices are directly the result of Russian President Vladimir Putin, calling it “Putin’s price hike.”

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