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‘Russian Oil Will No Longer Be Accepted At US Ports’ – Biden. UK Follow Suit.

2022 03 08T185915Z 1234641491 RC2NXS92W387 RTRMADP 3 UKRAINE CRISIS GERMANY ENERGY
The prospect of a ban on Russian oil had already sent oil prices up by 30 percent last month

United States President Joe Biden has imposed an immediate ban on Russian oil and other energy imports in retaliation for Russia’s invasion of Ukraine, while the United Kingdom said it would phase out imports by the end of 2022.

The latest sanctions are likely to push up oil prices — resulting in even higher prices at the pump.

What does the ban target?

The US government announced a ban on Russian oil, part of a broader prohibition that includes natural gas and coal.

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