Tuesday, July 15, 2025
  • REPORT A STORY
  • PRIVACY
  • CONTACT US
WITHIN NIGERIA - NEWS PICKS
  • HOME
  • FEATURES
  • NEWS PICKS
    • BREAKING
    • National
    • Local News
    • Politics
    • Diaspora
    • Business
    • Education
    • Sports
    • World News
      • Africa
      • U.S
      • Asia
      • Europe
    • XTRA
  • ENTERTAINMENT
  • MORE
    • GIST
    • ARTICLES
    • VIDEOS
No Result
View All Result
WITHIN NIGERIA - NEWS PICKS
No Result
View All Result
  • HOME
  • FEATURES
  • NEWS PICKS
  • ENTERTAINMENT
  • MORE

Ukraine: U.S to ban imports of oil and gas from Russia – Joe Biden

Adesina .O (Teekay) by Adesina .O (Teekay)
March 9, 2022
in World News
Reading Time: 2 mins read
0 0
A A
0
Share on FacebookShare on Twitter

United States President, Joe Biden, has announced that the U.S will ban imports of Russian oil, a major escalation in the international response to Moscow’s invasion of Ukraine.

WITHIN NIGERIA recalls that Russia military operation invaded Ukraine on Thursday February 24.

Biden said; “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 at 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.”

READ ALSO

Trump didn’t lose $250,000 to Lagos Yahoo boy — Here’s what really happened

Africa in the Age of Artificial Intelligence: My Vision for an AI-Driven Educational Renaissance

Caught in the crossfire: Global Celebrities trapped in the Iran–Israel War

Tracking the Israel–Iran War: A detailed day-by-day timeline of key events and escalating players

“This is a step we’re taking to inflict further pain on Putin.”

The European Union earlier Tuesday morning unveiled a plan to wean itself off of Russian fossil fuels.

“We simply cannot rely on a supplier who explicitly threatens us,” European Commission President Ursula von der Leyen said in a press release.

The White House said Biden will sign an executive order banning Russian oil, liquefied natural gas and coal imports to the U.S.

The ban on new Russian oil contracts “is immediate,” a senior Biden administration official told reporters later Tuesday. In Russia, oil is it’s main export and number one source of revenue.

No new contracts will be allowed, and existing contracts for Russian oil must be removed within 45 days, the official said.

In 2021, the U.S. imported about 672,000 barrels a day from Russia , despite the US being self sufficient in oil, according to figures from the Energy Information Administration.

That amount makes up roughly 8% of the total U.S. imports of oil and refined products.
Most of the US’ crude oil and petroleum imports come from Canada, Mexico and Saudi Arabia, making the U.S. far less dependent on Russian oil unlike Germany, Italy, Hungary, the UK and other European countries.

The news of the ban, sent oil prices soaring on Tuesday.

The price on West Texas Intermediate crude futures, contracts for April oil deliveries, hit $129.44 a barrel. That level is just below a recent high of $130.50 a barrel hit on Monday, which at the time was the highest price on oil since 2008.

Since Russia’s invasion of neighboring Ukraine, Russia has faced unprecedented international reaction, as dozens of countries slap sanctions on the Kremlin, its ultra-rich oligarchs and even Putin himself.

Also, Russia’s currency has plummeted in value and its stock market has been closed since severe sanctions were announced by the West..
Russia wants a change of leadership in Ukraine, wants recognition of Luhansk and Donetsk occupied regions by Ukraine and wants the country not to join Transatlantic military alliance, NATO.

POPULAR TODAY

    • All
    • National
    • Local News
    • Politics
    • World News
    • Sports
    • XTRA

    BREAKING: FG announces public holiday in honour of late Muhammadu Buhari

    July 14, 2025

    JUST-IN: Buhari could’ve died earlier if he relied on Nigerian hospitals, says Femi Adeshina

    July 15, 2025

    JUST-IN: Buhari’s corpse leaves UK for Daura burial

    July 15, 2025

    BREAKING: Awujale of Ijebu, Sikiru Adetona, passes away hours after Buhari’s death

    July 13, 2025

    Discussion about this post

    ADVERTISEMENT

    LATEST

    Coalition: Peter Obi’s exit from our party could end his political career – ADC

    July 15, 2025

    Why I back ADC’s coalition but remain in PDP – Sule Lamido

    July 15, 2025

    BREAKING: Buhari’s corpse arrives Nigeria from UK for burial in Daura

    July 15, 2025

    JUST-IN: Tinubu arrives Katsina, set to receive Buhari’s body

    July 15, 2025

    Buhari had no private residence in London, his friends cleared his medical bills – Femi Adesina

    July 15, 2025

    Security forces stand by as ‘Fulani extremists’ sack Plateau community, kill 20, raze houses

    July 15, 2025
    Load More
    NEWS PICKS — WITHIN NIGERIA

    WITHIN NIGERIA MEDIA LTD.

    NEWS, MULTI MEDIA

    WITHIN NIGERIA is an online news media that focuses on authoritative reports, investigations and major headlines that springs from National issues, Politics, Metro, Entertainment; and Articles.

    Follow us on social media:

    CORPORATE LINKS

    • About
    • Contacts
    • Report a story
    • Advertisement
    • Content Policy
    • Privacy Policy
    • Terms
     
    • Fact-Checking Policy
    • Ethics Policy
    • Corrections Policy
    • REPORT A STORY
    • PRIVACY
    • CONTACT US

    © 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • HOME
    • FEATURES
    • NEWS PICKS
      • BREAKING
      • National
      • Local News
      • Politics
      • Diaspora
      • Business
      • Education
      • Sports
      • World News
        • Africa
        • U.S
        • Asia
        • Europe
      • XTRA
    • ENTERTAINMENT
    • MORE
      • GIST
      • ARTICLES
      • VIDEOS

    © 2022 WITHIN NIGERIA MEDIA LTD. designed by WebAndName

    iiq_pixel