Biden Reportedly To Impose Russian Oil Ban As Soon As Today

It is being reported that the White House has decided to ban Russian oil imports, and the announcement could come today.

Jennifer Jacobs of Bloomberg News tweeted:

Even though it will lead to higher gas prices, the oil ban is wildly popular with the American people.

According to the latest Quinnipiac University Poll, “At nearly the end of week two of Russia’s invasion of Ukraine, as the U.S. and its allies consider ratcheting up sanctions against Russia, Americans say 71 – 22 percent that they would support a ban on Russian oil even if it meant higher gasoline prices in the United States. Democrats (82 – 12 percent), independents (70 – 22 percent), and Republicans (66 – 30 percent) all support banning Russian oil.”

Americans want to do more to stop Russia, even if it means paying more for a gallon of gas.

The ban might not be announced today. There are some variables in terms of timing, but it does appear that the decision has been made to ban Russian oil imports.

Since the US only gets 10% of its oil from Russia, potential steps could be taken to get additional production elsewhere. However, increasing domestic production won’t help because the oil companies on the oil drilled in the United States, not the American people.

Any huge jump in gas prices will be a sign that the oil companies are price gouging, which is a matter which should be a top priority for the Justice Department.

Americans want Russian oil banned, and it looks like Biden is going to deliver.