Biden announces a shot at Russian oil!

On the 8th local time, US President Biden delivered a televised speech, once again escalating sanctions against Russia - prohibiting the import of Russian oil and natural gas to increase the crackdown on the Russian economy
.

European countries are at odds
with this.
The UK confirms that the same sanctions will be imposed gradually; The European Union, which is more dependent on Russia's energy, said it would cut Russian gas imports by two-thirds this year and end its dependence on
Russia's energy supply as soon as possible by 2030.

Recently, affected by multiple factors such as the Russia-Ukraine conflict and Western sanctions against Russia, international oil prices have soared
.
The Russian side warned that the abandonment of Russian oil by the West would have disastrous consequences for
the world market.

Source: U.
S.
President Joe Biden
.

[The United States launched the most severe sanctions against Russia in history]

On the 8th local time, Biden made a televised speech announcing that it would impose an energy import ban on
Russia.
The import ban includes Russian oil, liquefied natural gas and more
.

Biden said that the United States has imposed the toughest sanctions on Russia in history, which will hurt the Russian economy
.

At the same time, he said that this decision was made in close consultation with allies and that he understood that some allies in Europe could not do the same
.

As international oil prices continue to climb recently, domestic gasoline prices in the United States are approaching their highest since
July 2008.
Biden also mentioned in his speech on the same day that this sanctions will cause international oil prices to rise further, and "the United States will pay a price for
this.
"

Infographic: A car owner refuels at a gas station in San Mateo County, California, U.
S.
on November 16, 2021
.
Gasoline prices in California hit an all-time high that day, according to the American Automobile Association, with the average price per gallon of regular gasoline soaring to $4.
687, the highest
of any state in the United States.

In this regard, Biden also said that he will continue to work to reduce the pressure on American households due to rising energy prices and reduce the dependence of the United States on
foreign oil and fossil fuels.
The U.
S.
government has pledged to release more than 90 million barrels of strategic petroleum reserves
this fiscal year.

Pelosi, speaker of the House of Representatives of the US Congress, announced later that the House of Representatives will advance legislation
banning the import of Russian oil by the United States on the 8th.
According to Pelosi, the bill contains three main provisions that would further isolate Russia in the context of the global economic situation and make it more vulnerable in all respects
.

【European allies are at a different pace】

At the same time as Biden gave his televised address, British Business Secretary Kwasic Voten confirmed on social media that the UK would phase out imports of Russian oil and petroleum products
by the end of 2022.

He said UK companies should use the rest of the year to ensure a smooth transition, adding that a new oil working group
would be established.

But banning Russian oil could put further upward pressure
on Britain's energy prices.
Bloomberg said that due to soaring inflation, the British people are already facing a cost-of-living crisis, and the tax burden will reach the highest level
since the 1950s.

Compared with the United Kingdom and the United States, the EU is more dependent on Russian oil and gas resources, and about 40% of the gas supply comes from Russia
.

Source: German Chancellor Scholz
.

Earlier, the EU announced that it would cut Russian gas imports by two-thirds this year and end its dependence
on Russian energy supplies as soon as possible by 2030.

But making the plan a reality will require a concerted effort from EU member states, most of which are uneasy about the need for investment in the EU's energy transition plan and are trying to curb the political impact of
energy costs.

Germany is the one
who clearly objected.
German Chancellor Chancellor Scholz said Germany would continue to buy gas, oil and coal from Russia
.

"There is currently no other way to ensure heating, transport, electricity and industrial energy supply in Europe," he said, and ensuring energy supply is essential
for citizens' daily lives.

Data map: On March 6, 2022 local time, a car owner refueled
his vehicle in San Mateo County, California, USA.
According to the American Automobile Association's National Average Gasoline Price Monitor, the average price of regular gasoline in the United States reached $4.
009 per gallon on the same day, the highest average gasoline price on record
since the summer of 2008.

[Will Russia cut off gas supplies to Europe]

Russian Deputy Prime Minister Novak warned on the 7th that the West's abandonment of Russian oil will have disastrous consequences for the world market, and the surge in oil prices will be unpredictable, and may even exceed $
300 per barrel.

Novak also pointed out that in response to the sanctions imposed on Nord Stream 2, Russia has every right to take-for-tat actions to stop the delivery of natural gas through Nord Stream 1, but Russia has not done so
.

The Nord Stream 1 pipeline was laid in May 2011 and officially put into use in November of the same year to transport gas
to Europe.
The pipeline is currently running at full capacity
.

He said that Russia would have had every right to respond to the relevant words and deeds of Europe and the United States, "but so far, we have not made this decision
.
" Because no one is going to benefit from it, although statements from European politicians and accusations against Russia are pushing us to do so
.
”