US President Biden announces Russian oil ban over Ukraine conflict
2 years ago
10
US President Joe Biden has said the US is banning Russian oil and the EU is ending its reliance on Russian gas, as countries harden their response to the invasion of Ukraine.
In a similar move, the UK is to phase out Russian oil imports by the end of 2022.
US President Joe Biden said the move targeted "the main artery of Russia's economy".
He spoke soon after the European Commission said it would reduce EU demand for Russian gas by two-thirds - the EU gets 40% of its gas from Russia.
The move is likely to mean higher petrol prices and bills for consumers.
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