The US president officially announced in a message on Tuesday evening that the United States would ban oil imports from Russia.
According to Pak Sahafat News Agency’s International group, US President Joe Biden announced on Tuesday that his country will officially ban the import of Russian oil.
Russia’s deputy prime minister warned on Monday that the price of the product could reach more than $ 300 a barrel if the United States and the European Union ban oil imports from Russia.
“Alexander Novak” stated in a video message broadcast on Russian state television: “It is clear that the Russian oil ban will have catastrophic consequences for the world market.”
He further clarified: “Rising prices will be unpredictable. “The price of oil will reach $ 300, if it does not go even higher.” Ukrainian President Volodymyr Zelinsky on Monday called on the international community to impose sanctions on Russian oil and gas. Following the request, Reuters quoted several informed sources as saying that Joe Biden’s government was considering banning Russian oil from entering the United States without the participation of its European allies.
Russia ordered a military strike on Ukraine on Thursday morning (February 24th). This development came days after Moscow formally recognized the independence of the Donetsk and Luhansk republics in eastern Ukraine.
Russia says Ukraine has not fulfilled its obligations under the Minsk agreements reached in 2014 and 2015 to resolve the dispute between separatists and Kiev. Vladimir Putin says Russia’s military operation is aimed at “demilitarizing Ukraine” and “de-Naziizing” the country.
Hours after the Russian invasion, Ukraine announced that it had cut off all diplomatic ties with the country. Western nations have repeatedly imposed sanctions on Russia, including several of its banks, which have cut off Swift’s banking messaging system.