Biden’s Latest Announcement Will Affect YOUR Wallet
ON THIS DAY IN HISTORY…
1933: US Congress is called into special session by FDR, beginning its “100 days.”
President Joe Biden announced that the U.S. will ban all imports of Russian oil, natural gas and coal in response to Russian President Vladimir Putin’s invasion of Ukraine.
“We will not be part of subsidizing Putin’s war,” Biden said. “The American people will deal another powerful blow to Putin’s war machine.”
Biden said the decision “is not without costs here at home.”
“I’m going to do everything I can to minimize Putin’s [gas] price hikes” he said.
“This crisis is a stark reminder that to protect our economy over the long-term, we need to become energy independent,” Biden added. “It should motivate us to accelerate a transition to clean energy.”
The president had initially been reticent to ban energy imports as gas prices soared, but faced bipartisan pressure to do so.
House Speaker Nancy Pelosi told the Democratic caucus on Tuesday that the House will move forward with legislation to ban Russian oil imports, despite Biden’s executive action.