President Biden announces ban on Russian energy imports
Updated: 12:01 PM EST Mar 8, 2022
Good morning folks, Sorry to keep you waiting. There was a couple of phone calls today. I'm announcing the United States is targeting the main artery of Russia's economy. We're banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be acceptable at U. S. Ports and the american people will deal another powerful blow to Putin's war machine. This is a move that has strong bipartisan support in Congress. And I believe in the country, americans have rallied support, have rallied to support the Ukrainian people and made it clear we will not be part of subsidizing Putin's war. This made we made this decision in close consultation with our allies and our partners around the world, particularly in europe. Because a united response to Putin's aggression has been my overriding focus to keep all NATO and all of the EU and our allies totally united. We're moving forward this band understanding that many of our european allies and partners may not be in a position to join us. The United States produces far more oil domestically than all of european, all the european countries combined. In fact, we're a net exporter of energy so we can take this step when others cannot. But we're working closely with europe and our partners to develop a long term strategy to reduce their dependence on Russian energy as well. Our teams are actively discussing how to make this happen. And today we remain united. We remain united in our purpose to keep pressure mounting on Putin and his war machine. This is a step that we're taking to inflict further pain on Putin but there will be costs as well here in the United States. I said I would level with the american people from the beginning and when I first spoke to this, I said defending freedom is going to cost, it's going to cost us as well in the United States. Republicans and democrats understand like understand that republicans and democrats alike have been clear that we must do this. Over the last week, I spoke with President Zelensky several times. Do you remember about the situation on the ground and to consult and continue to consult with our european allies and about us support for Ukraine and Ukrainian people. Thus far, we've provided more than $1 billion dollars in security assistance to Ukraine shipments of defensive weapons are arriving in Ukraine every day from the United States and we, the United States, the ones coordinating the delivery of our allies and partners of similar weapons from Germany to Finland to the Netherlands were come, we're working that out. We're also providing humanitarian support for the Ukrainian people, both of those still in Ukraine and those who have fled safely to a neighboring country. We're working with humanitarian organizations to surge tens of thousands of tons of food, water and medical supplies into Ukraine and with more on the way over the weekend, I sent Secretary Blinken to visit our border between the border between Poland and Ukraine and Moldova to see what the situation was. First hand and report back General Milley, Chairman of the Joint Chiefs of Staff. Our Defense Department is also what was also in europe meeting with his counterparts and allies on NATO eastern flank To reassure them those countries bordering Russia NATO countries that we will keep our NATO commitment sacred commitment. Article of Article five, the Vice president Harris is gonna be traveling to meet with our allies in Poland and Romania later this week as well. I've made it clear that the United States will share in the responsibility of caring for the refugees so the costs do not fall entirely on the european countries border in Ukraine and yesterday I spoke with my counterparts in France Germany and the United Kingdom. While Russia is escalating violence against Ukraine and the steps that we're going to take together with our allies and partners around the world to respond to this aggression. We are enforcing the most significant package of economic sanctions in history and it's causing significant damage to Russia's economy. It has caused Russian economy to fight frank, frankly crater The Russian ruble is now down to 50% by 50% ST. Putin's announced his war one ruble Is now worth less than one American penny one ruble less than one American penny. And preventing Russia's Central bank from propping up the ruble and to keep its value up. They're not gonna be able to do that. Now we cut the Russians largest banks from the international financial system and has crippled their ability to do business with the rest of the world. In addition, we're choking off Russia's access to technology like semiconductors that are and uh and sap its uh its economic strength and weaken its military for years to come. Major companies are pulling out of Russia entirely without even being asked not by us over the weekend. Visa Mastercard american express, they all suspended their services in Russia. All of them joining a growing list of american and global companies from ford to Nike to apple. They have suspended their operations in Russia. The U. S. Stock exchange has halted trading of many Russian securities. The private sector is united against Russia's vicious war of choice. The U. S. Department of Justice has assembled a dedicated task force to go after Russian for the crimes of Russian oligarchs. And we're joining with our european allies to find and seize their yachts, their luxury apartments, their private jets and all their ill begotten gains to make sure that they share in the pain of Putin's war. These, by the way, are giant yachts. You put some of them in your press. I mean some of them are, I think I've read one was over 400 ft long. I mean it's uh this is worth hundreds of millions of dollars. The decision today is not without cost here at home. Putin's war is already hurting american families at the gas pump since Putin began his military build up on Ukrainian borders. Just since then, The price of the gas at the pump in America went up 75 cents. And with this action is going to go up further, I'm going to do everything I can to minimize Putin's price hike here at home in coordination with our partners, we've already announced that we're releasing 60 million barrels of oil from our joint oil reserves. Half of that 30 billion million, excuse me, is coming from the United States and we're taking steps to ensure the reliable supply of global energy. We are also going to keep working with every tool at our disposal, protect american families and businesses. Let me, let me say this to the oil and gas companies and to the finance firms that pack. We understand Putin's war against the people of Ukraine is causing prices to rise. We get that. That's self evident, but but but but it's no excuse to exercise excessive price increases or padding profits or any kind of effort to exploit this situation or, or american consumers exploit them. Russia's aggression is costing us all. And there's no time for profiteering or price gouging. I want to be clear about what we will not tolerate, but I also want to acknowledge those firms and oil and gas industries that are pulling out of Russia and joining other businesses that are leading by example, this is the time when we have to do our part and make sure we're not taking, we're not taking advantage. Let me be clear About two other points. one, it's simply not true that my administration or policies are holding back domestic energy production. That's simply not true. Even amid the pandemic companies in the United States pump more oil during my first year in office than they did during my predecessor's first year. We're approaching a record levels of oil and gas production in the United States and we're on track to set a record oil production next year. In the United States, 90% of onshore oil production takes place on land that isn't owned by the federal government And of the remaining 10 that occurs on federal land. The oil and gas industry has millions of acres leased. They have 9000 permits to drill. Now, they could be drilling right now, yesterday, last week, last year They have 9000 to drill on shore that are already approved. So let me be clear, let me be clear they are not using them for production now, that's their decision. These are the facts. We should be honest about the facts. Second, this crisis is a stark reminder to protect our economy. Over the long term. We need to become energy independent. I have had numerous conversations over the last three months with our european friends and how they have to wean themselves off of us. Russian oil. It's just not, it's just not tenable. It should motivate us to accelerate the transition to clean energy. This is a perspective examining our european allies share and the future where together we can achieve greater independence, loosening environmental regulations are pulling back clean energy investment. Won't let me explain. Won't will not lower energy prices for families, but transforming our economy to run on electric vehicles powered by clean energy with tax credits to help american families winterize their homes and use less energy. That will that will help. And if we can, if we do what we can, it will mean that no one has to worry about the price of gas pump in the future. That will mean tyrants like Putin won't be able to use fossil fuels as weapons against other nations and it will make America a world leader manufacturing and exporting clean energy technologies of the future to countries all around the world. This is the goal we should be racing towards. Over the last two weeks. Ukrainian people have inspired the world and I mean that in a literal sense, they've inspired the world with their bravery, their patriotism, their defiant determination to live free Putin's war. Putin's war has caused enormous suffering and needless loss of life of women, Children, Everyone in Ukraine both Ukraine and I might add Russians. Ukrainian leaders as well as leaders around the world have repeatedly called for a ceasefire for humanitarian relief for real diplomacy. But Putin seems determined to continue on his murderous path. No matter the cost. Putin is now targeting cities and has been targeting cities and civilians, schools, hospitals, apartment buildings. Last week he attacked the largest nuclear power plant in europe with an apparent disregard for the potential of triggering a nuclear meltdown. He has already turned two million Ukrainians into refugees. Russia may continue to grind out its advance at a horrible price, but this much is already clear. Ukraine will never be a victory for Putin. Putin may be able to take a city, but he'll never be able to hold the country. And if we do not respond to Putin's assault on global peace and stability today, the cost of freedom and to the american people will be even greater tomorrow. So we're going to continue to support the brave Ukrainian people as they fight for their country. And I call on Congress to pass the $12 billion Ukraine assistance package that I have asked him for. Of late Ukrainian people are demonstrating by their physical courage that they are not about to just let Putin take what he wants. That's clear. They'll defend their freedom, their democracy, their lives. And we're going to keep providing security assistance, economic assistance and humanitarian assistance. We're going to support them against tyranny, oppression, violent acts of subjugation people everywhere. And I think it's maybe even surprise some of you all people everywhere are speaking up for freedom. When the history of this war is written, Putin's war on Ukraine will have left Russia weaker and the rest of the world stronger. And God bless all those heroes in Ukraine. And now I'm off to texas. Thank you very, very much. I know there's a lot of questions I know, I know there's a lot of questions, but there's a lot more that has to be made clear and I'm gonna hold on that until we get more information. Thank you, appreciate it.
President Biden announces ban on Russian energy imports
Updated: 12:01 PM EST Mar 8, 2022
President Joe Biden on Tuesday announced his administration is banning Russian oil, natural gas and coal imports to the U.S. in response to the Russian invasion of Ukraine."Today I am announcing the United States is targeting the main artery of Russia's economy. We're banning all imports of Russian oil and gas and energy," Biden said in remarks from the White House. "That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another powerful blow to Putin's war machine."The U.S. will make the move unilaterally, without its European allies, due to disagreement among European nations about whether to ban Russian energy imports. EU countries have significantly more exposure to Russian energy than the U.S.U.S. officials decided, given the extreme political pressure at home, they could move without the coalition and not create major issues.Bloomberg was first to report the move.U.S. imports from Russia make up a small slice of American energy portfolio 바카라 게임 웹사이트 roughly 8% in 2021, of which only about 3% was crude oil. White House economic officials have been engaged for more than a week as to how to manage any decision to cut off those imports, officials say. The Department of Energy reported that in the last two weeks of February, Russian oil imports dropped to zero as U.S. companies cut ties with Russia, effectively implementing their own ban.Those efforts have grown more intense in recent days as it became almost certain the U.S. would impose a ban this week, one official said.In both public and private conversations, top American allies have said the U.S. would likely be acting on its own should it target Russian energy imports. That raised its own concerns at the White House, as U.S. officials remain wary of pursuing any action that would fragment the carefully coordinated alliance that has served as the focal point of the response up to this point.However, political pressure from both Republicans and Democrats made putting off a ban untenable."It is a fairly small percentage of the energy coming into the U.S., but it's critical for western Europe," Delaware Sen. Chris Coons said Tuesday on CNN.The Democrat added, "The strength of our sanctions, of the costs we're imposing on Putin for this brutal invasion of Ukraine are more successful and more sustainable when they're coordinated. So, I respect the fact that the administration is coordinating with our European allies and making sure that we have done the groundwork to understand how to effectively implement a ban on Russian energy."The sanctions the West has slapped on Russia following its unprovoked invasion of Ukraine have so far exempted oil exports. But Biden has faced pressure from both Democrats and Republicans to impose tougher restrictions on Russia's energy sector, which could inflict more damage on the Russian economy than the retaliatory economic measures taken so far.Biden held a phone call over the weekend with top members of his administration to discuss a potential ban on Russian oil imports, according to Secretary of State Antony Blinken.Biden administration officials also traveled to Venezuela over the weekend to hold discussions on potentially allowing Venezuela to sell its oil on the international market, which would help replace Russian fuel. Biden may also travel to Saudi Arabia as the U.S. works to convince the kingdom to increase its production. The talks underscore how Russia's invasion has upended international relations and forced the US and other nations to seek out solutions in places they typically have shunned.The move comes as gas prices skyrocket in the U.S. as Russia's invasion of Ukraine rocks the global oil market. The average price for a gallon of regular gas broke its 2008 record, hitting $4.14 on Monday, according to the Oil Price Information Service, the firm that collects and calculates prices for AAA. That breaks the previous record of $4.11 a gallon that has stood since July 2008.Gas prices were already on the rise as the U.S. grappled with record inflation amid the coronavirus pandemic. In the fall, ahead of the busy holiday travel season, Biden announced the largest release of oil from emergency reserves in US history to try to combat high energy prices.
WASHINGTON — President Joe Biden on Tuesday announced his administration is banning Russian oil, natural gas and coal imports to the U.S. in response to the Russian invasion of Ukraine.
"Today I am announcing the United States is targeting the main artery of Russia's economy. We're banning all imports of Russian oil and gas and energy," Biden said in remarks from the White House. "That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another powerful blow to Putin's war machine."
The U.S. will make the move unilaterally, without its European allies, due to disagreement among European nations about whether to ban Russian energy imports. EU countries have significantly more exposure to Russian energy than the U.S.
U.S. officials decided, given the extreme political pressure at home, they could move without the coalition and not create major issues.
the move.
U.S. imports from Russia make up a small slice of American energy portfolio 바카라 게임 웹사이트 roughly 8% in 2021, of which only about 3% was crude oil. White House economic officials have been engaged for more than a week as to how to manage any decision to cut off those imports, officials say. that in the last two weeks of February, Russian oil imports dropped to zero as U.S. companies cut ties with Russia, effectively implementing their own ban.
Those efforts have grown more intense in recent days as it became almost certain the U.S. would impose a ban this week, one official said.
In both public and private conversations, top American allies have said the U.S. would likely be acting on its own should it target Russian energy imports. That raised its own concerns at the White House, as U.S. officials remain wary of pursuing any action that would fragment the carefully coordinated alliance that has served as the focal point of the response up to this point.
However, political pressure from both Republicans and Democrats made putting off a ban untenable.
"It is a fairly small percentage of the energy coming into the U.S., but it's critical for western Europe," Delaware Sen. Chris Coons said Tuesday on CNN.
The Democrat added, "The strength of our sanctions, of the costs we're imposing on Putin for this brutal invasion of Ukraine are more successful and more sustainable when they're coordinated. So, I respect the fact that the administration is coordinating with our European allies and making sure that we have done the groundwork to understand how to effectively implement a ban on Russian energy."
The sanctions the West has slapped on Russia following its unprovoked invasion of Ukraine have so far exempted oil exports. But Biden has faced pressure from both Democrats and Republicans to impose tougher restrictions on Russia's energy sector, which could inflict more damage on the Russian economy than the retaliatory economic measures taken so far.
Biden held a phone call over the weekend with top members of his administration to discuss a potential ban on Russian oil imports, according to Secretary of State Antony Blinken.
Biden administration officials also traveled to Venezuela over the weekend to hold discussions on potentially allowing Venezuela to sell its oil on the international market, which would help replace Russian fuel. Biden may also travel to Saudi Arabia as the U.S. works to convince the kingdom to increase its production. The talks underscore how Russia's invasion has upended international relations and forced the US and other nations to seek out solutions in places they typically have shunned.
The move comes as gas prices skyrocket in the U.S. as Russia's invasion of Ukraine rocks the global oil market. The average price for a gallon of regular gas broke its 2008 record, hitting $4.14 on Monday, according to the Oil Price Information Service, the firm that collects and calculates prices for AAA. That breaks the previous record of $4.11 a gallon that has stood since July 2008.
Gas prices were already on the rise as the U.S. grappled with record inflation amid the coronavirus pandemic. In the fall, ahead of the busy holiday travel season, Biden announced the largest release of oil from emergency reserves in US history to try to combat high energy prices.