Biden: US ban on Russia oil a blow to 'Putin's war'

President Biden announced that the U.S. is "targeting the main artery of Russia's economy" by banning imports of Russian oil, the latest sanction intended to punish Moscow for its invasion of Ukraine.

Joe Biden, U.S. President said “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. 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."

Biden's announcement came amid rising pressure from Democrats and Republicans, and it reflects a willingness to accept the political risk of rising gas prices to economically retaliate against Russia.