U.S. and U.K. Ban Russia Oil Imports, Squeezing Putin on War
- U.K. to allow coal, natural gas; Europe won’t participate
- Gasoline and crude prices surge; Biden warns against gouging
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President Joe Biden said the U.S. will ban imports of Russian fossil fuels including oil, a major escalation of Western efforts to hobble Russia’s economy that will further strain global crude markets.
“The United States is targeting the main artery of Russia’s economy,” Biden said Tuesday in Washington. “We will not be part of subsidizing Putin’s war.”