The United States has banned Russian oil, gas, and electricity imports. The President of the US, Joe Biden, announced this decision on 8 March 2022.
According to Voice of America, Russian imports measure about 8% of the US market.
"Today, I am announcing new sanctions. We are banning all oil imports. Russian oil will not be imported. This measure has strong bipartisan support," Biden said.
He added that he pays great attention to the issue of Russian aggression against Ukraine and joint actions with Europe.
"The United States is a total net exporter of energy, so we can take steps that others cannot. Our teams are united in putting pressure on Putin. Of course, these steps will mean costs for the United States. But protecting freedom means costs as well." said the American president.
He added that the United States had provided the Ukrainian defense area with more than $ 1bn; defense equipment goes to Ukraine every day, the same is about humanitarian aid.
Biden noted that due to Western sanctions, the Russian economy has cracked; in particular, the ruble fell by 50%.
"We are also restricting Russian access to high technology, which will harm Russia's military sector for many years to come. Ford, Nike, and Apple have ceased operations in Russia," he said.
In addition, the US Treasury has set up a working group to investigate the wealth of Russia's oligarchs. Specialists find the location of their yachts, planes, and apartments.
We should recall that after Russia's full-scale invasion of Ukraine, strong sanctions were implemented on the occupier, including the closure of stores and the cessation of supplies. In particular, due to the war in Ukraine, the American company Procter & Gamble stopped investing and advertising in Russia; it will keep only the sale of essential hygiene products, which will also be reduced.