US announces ban on Russian oil, gas & energy

President Joe Biden announced a ban on US imports of Russian oil, gas and coal, saying Ukraine will "never be a victory for Putin". Britain said it will also phase out Russian oil imports by the end of this year. “We will not be part of subsidizing Putin’s war,” Biden declared, calling the new action a “powerful blow” against Russia’s ability to fund the ongoing offensive. He warned that Americans will see rising prices, saying, “Defending freedom is going to cost.” Biden said the US was acting in close consultation with European allies, who are more dependent on Russian energy supplies. The European Union this week will commit to phasing out its reliance on Russia for energy needs as soon as possible, but filling the void without crippling EU economies will likely take some time.

In a tweet Biden said on Wednesday the war in Ukraine would never be a victory for his Russian counterpart Vladimir Putin. He said Putin may be able to take a city, but never will be able to hold the country.

This much is already clear: Ukraine will never be a victory for Putin.

Putin may be able to take a city — but he will never be able to hold the country.

— President Biden (@POTUS) March 9, 2022

Biden said the current crisis was a stark reminder that to protest the economy over the long term, US needed to become energy independent. It would also mean that “tyrants like Putin” would not be able to use fossil fuels as a weapon.