BREAKING: President Biden to ban Russian oil imports over Ukraine war, AP sources say
WASHINGTON -- President Joe Biden has decided to ban Russian oil imports, toughening the toll on Russia's economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter.
Biden was set to announce the move as soon as Tuesday, the person said, speaking on the condition of anonymity to discuss the matter before an announcement. The White House said Biden would speak Tuesday morning to announce"actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine."The U.S. will be acting alone, but in close consultation with European allies, who are more dependent on Russian energy supplies.
The U.S. and international partners have sanctioned Russia's largest banks, its central bank and finance ministry, and moved to block certain financial institutions from the SWIFT messaging system for international payments.