President Biden Bans Russian Oil Imports Over Ukraine War

President Biden announced a ban on Russian oil imports to the US, aiming to cut off a major revenue source for Russia amid its invasion of Ukraine. This decision, while impactful globally, particularly affects gas prices in the US. The US is exploring options to mitigate these effects, including releasing oil from the Strategic Petroleum Reserve and negotiating with other countries like Venezuela and Iran to replace Russian oil. The ban highlights the US's stance against funding Putin's war efforts, despite potential economic repercussions.

What was the primary reason for President Biden's decision to ban Russian oil imports?

• To respond to Russia's invasion of Ukraine

• To reduce U.S. dependency on foreign oil

• To strengthen ties with European allies

• To increase domestic oil production

Why might European countries find it challenging to follow the U.S. in banning Russian energy imports?

• They rely more heavily on Russian energy

• They have no alternative energy sources

• They are not affected by the sanctions

• They have stronger economic ties with Russia

What percentage of U.S. crude oil imports came from Russia last year?

• 15%

• 12%

• 8%

• 5%

What is one of the potential consequences of the Russian oil ban on the U.S. domestic market?

• Decrease in gas prices

• Increase in gas prices

• Stability in gas prices

• No impact on gas prices

Which countries is the U.S. considering for oil imports to replace Russian oil?

• Venezuela and Iran

• Canada and Mexico

• China and India

• Australia and Japan