₦airaland Forum

The move comes as a response to pressure from US lawmakers.

U.S. President Joe Biden is set to announce a ban on US imports of Russian oil on Tuesday, the latest effort to cut off foreign revenue as punishment for the Ukraine invasion.

The move comes in response to pressure from U.S. lawmakers. On Sunday, the Biden administration appeared not to favor a move that Russia's critics say is the best - and perhaps only - way to force Moscow to withdraw.

The ban will include oil, liquefied natural gas and coal
"Simply not true his administration is holding back domestic energy production," says Biden.

"Goal of US policy is to prevent letting "tyrants like Putin" use energy as a weapon in the future. Putin seems determined to continue on his murderous path no matter the cost. I call on Congress to pass the $12 billion Ukraine assistance package."

The US and international partners have sanctioned Russia's largest banks, its central bank and finance ministry, and moved to block certain financial institutions from the Swift messaging system for international payments.

Natural gas from Russia accounts for one-third of Europe's consumption of the fossil fuel. The US does not import Russian natural gas.

The move follows pleas by the Ukrainian president, Volodymyr Zelenskiy, to US and western officials to cut off the imports, which had been a glaring omission to massive sanctions put in place over the invasion.

Biden says U.S. gasoline prices will continue to rise after they have already skyrocketed
"The decision today is not without cost here at home," says

Biden, noting gasoline prices in the US will go up further after already surging.

Oil and gas industry warned by Biden against "excessive price increases or padding profits."

"We're banning all imports of Russian gas, oil and energy," says Biden
President Joe Biden confirms that the United States will ban all imports of Russian gas, oil and energy in response to the invasion of Ukraine.

"We're banning all imports of Russian gas, oil and energy," announces Biden.

The White House said Biden would announce "actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine".

According to the US Energy Information Administration, Russian oil made up about 3% of all crude shipments to the US last year - a far lighter dependence than among European US allies.

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Lalasticlala

JUST IN - Average gas prices in the U.S. reached $4.17 per gallon today, the highest in history, breaking the previous record of $4.11 set in July 2008.

@disclosetv

EmmanuelScott1:
JUST IN - Average gas prices in the U.S. reached $4.17 per gallon today, the highest in history, breaking the previous record of $4.11 set in July 2008.

@disclosetv

e go reach $10 soon…

Ok

EmmanuelScott1:
JUST IN - Average gas prices in the U.S. reached $4.17 per gallon today, the highest in history, breaking the previous record of $4.11 set in July 2008.

@disclosetv

Mehn some people will change to using bicycles

Oil be like crypto, new ATH

Is the US economy not been indirectly dragged alongside Russia like this so

Good move . EU should follow suit. Fvcking hypocrites. The supply is inconsequential to US.

Was is the impact of increase on oil prices on the American economy itself

I’m waiting for the EU countries to follow , I wan check something… it’s just 4% inconsequential … Nah Germany Dey my mind… Germany with balls pls ban Russian oil and gas… UK want to wait till the end of the year, dem suppose act asap… pls ban immediately… Jokers!!!

It won’t change anything, only diplomacy go settle this matter…. Make dem meet and negotiate so Ukrainians will have peace and return to their homeland, no place like home….

Nairaland war mongers and analysts predicted that Ukraine will full on February 28.
They also opined that sanctions don't mean anything to Russia.

The sanctions are pouring in and it will take years for Russia to recover.
No nation is an island, you need to chill with the big boys if you are to remain a world power.

---

Both parties (US and Russia) economy will be affected

Alusiizizi:
No, it takes an incredibly stupid and naive man like Biden to do this. US economy will suffer no doubt and 3% of USA consumption will not even put a dent in Russian oil/gas exports. I would have dismissed this stunt as a useless gesture if it did not come with dire economic consequences for the American economy.

Loss of 3% market share is what I'd call a dent. And remember Canada has banned also. A few parts of Europe may ban also. By then it is no longer a dent on Russia but a massive bash.

Actually, the Russians could have still gotten away with this by reorganizing trade and selling to another country which would lose a supplier once the US looks to buy elsewhere. However, the US is already countering this by lifting embargo on Venezuela. They may lift embargo on Iran and Syria.

Given influence with gulf economies, they could get OPEC to pump and meet demand. And Russia would really be toast.

Nigeria will cash in big time.
Lete see how ApC government will handle the oil proceeds.
Congratulations to Nigeria

Nice




We've got balls mehn

Lol , we all know the EU can't take the same steps , they'd rather protect their citizens life and interests first . That's what the comedian failed to realize dragging his citizens to wrong allegiance.

This is getting serious

Good time to put some money into shale oil and LNG penny stocks in the US.

Only 7% of US oil imports are from Russia. They "hope" to get this from Caracas or Tehran

I truly do not care who dies!

Biden is teaching Putin unforgettable lesson, the sage Vs dictator fight

Na their body go tell dem.


Both the sanctioner and the Sanctionee go hear am.

Inflation loading in US

Jjj

Nigeria go cash out be that

Just as expected.
Anything to help the Ukrainians win this war.
Putin is just an a$$hole.
Now, this would boomerang on the Bidens administration.
He shouldn't have stopped the Keystone pipeline.
He also stopped oil production here.

How will that solve the country's problem??

Okay

Just 3%.......

Trump would have done something different perhaps.
Zelenskyy will regret this decision to drag the entire glove into a messy recession. Is an annexed Ukraine worst than a world economic crises?

Chaeee. I just heard him deliver a speech on Foxnews channel.

America's interference won't be an easy one on Russia. Unfortunately, the innocent people in Russia would suffer this. Biden said earlier today that they'd deploy a jet to destiry russian missiles. Once American troops enter any country,they'd not leave until they destroy anything destroyable and create their base there perpetually. One thing I fear most about America is, they don't act quickly. But by the time they act, its always brutal. No country likes war more than USA cos in war lies their strength.

Russia will definitely know something Hugh have hit them.