President Joe Biden is expected to announce a ban on importing Russian fuel, according to a person familiar with the matter.
Critics of Russia have said this would be the best — and perhaps only — way to force Moscow to pull back. apne.ws/Xwi66SE
Critics of Russia have said this would be the best — and perhaps only — way to force Moscow to pull back. apne.ws/Xwi66SE
A full embargo would be most effective if it included European allies, which are also desperate to stop the violence in Ukraine and the danger Moscow poses to the continent.
Yet it’s far from clear that Europe would take part in a total embargo. apnews.com/article/us-rus…
Yet it’s far from clear that Europe would take part in a total embargo. apnews.com/article/us-rus…
A ban on Russian oil and natural gas would be painful for Europe as Russia provides about 40% of Europe’s natural gas for home heating, electricity and industry uses and about a quarter of Europe’s oil. apnews.com/article/us-rus…
If the U.S. acts alone in banning imports of Russian oil and refined products, the impact on Moscow would likely be minimal.
The United States imports a small share of Russia’s oil exports and doesn’t buy any of Moscow’s natural gas. apnews.com/article/russia…
The United States imports a small share of Russia’s oil exports and doesn’t buy any of Moscow’s natural gas. apnews.com/article/russia…
So how will a U.S. ban affect gas prices?
A month ago, oil was selling for about $90 a barrel. Energy analysts warn that prices could go as high to $160 or even $200 — potentially sending an average gallon of U.S. gasoline past $5. apnews.com/article/us-rus…
A month ago, oil was selling for about $90 a barrel. Energy analysts warn that prices could go as high to $160 or even $200 — potentially sending an average gallon of U.S. gasoline past $5. apnews.com/article/us-rus…
The average price for a gallon of gasoline in the U.S. hit a record $4.17 as the country prepares to ban Russian oil imports.
The average price rose by 10 cents per gallon in one day, and it’s up 55 cents since last week, according to AAA data. apne.ws/bEsxfM4
The average price rose by 10 cents per gallon in one day, and it’s up 55 cents since last week, according to AAA data. apne.ws/bEsxfM4
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