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.

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