Biden to ban Russian oil in yet another massive blow to Putin
President Joe Biden in yet another massive blow to Russian President Vladimir Putin is set to ban Russian oil as soon as today.
The move comes as Putin’s illegal war and alleged war crimes against the sovereign nation of Ukraine is going exceptionally poorly amid almost universal worldwide condemnation of the authoritarian Russian Federation leader and former KGB agent.
Biden’s ban will be “without the participation” of America’s European allies, Bloomberg News reports. “The ban will include Russian oil, liquefied natural gas and coal, according to two people, who spoke on condition of anonymity.”
The House has been working on a bill to ban Russian oil as well. The ban could increase the price of gas at the pump, which hit an all-time high Monday, causing conservatives to use the news to attack the Biden administration.
Overall, the President has little to no control over the price of gas, but the oil companies do, as U.S. Senator Ed Markey (D-MA) noted on Monday:
Here's a fact you won't hear on Fox News today. Exxon, Chevron, and Conoco made $46 billion in profit in 2021. Now they're using 40% of those profits for stock buybacks. Big Oil is raking it in, raising prices, and taking advantage of the war in Ukraine to push for more drilling.— Ed Markey (@Ed Markey) 1646668434
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