World Desk, AnyTV, Washington
Published by: Gaurav Pandey
Updated Tue, 08 Mar 2022 09:59 PM IST
The US has decided to stop importing oil and gas from Russia because of the attack on Ukraine. However, even before the implementation of this decision, its effect was visible in the US market.
US President Joe Biden
– Photo: PTI (File)
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US President Joe Biden has decided to impose sanctions on oil imports from Russia. Russia’s economy, which is facing continuous sanctions from Western and European countries after attacking Ukraine, is expected to get a major blow from this decision of the US government.
Ukrainian President Volodymyr Zelensky has urged the US and other Western countries to end imports from Russia. It is believed that America has taken this step in view of this demand. Energy exports have maintained steady cash flows to Russia despite severe sanctions.
Gasoline prices hit record high in America
On the other hand, the effect of this preparation of America is already visible in the American market. According to the information, the average price of one gallon of gasoline in the US has reached a record high of $ 4.17 (Rs 321.73) amid preparations to end oil and gas imports from Russia.
The UK government can also announce the same
On the other hand, the British government is also preparing to ban the import of gas and oil from Russia. According to the information, the British government can announce at four in the afternoon (9.30 pm Indian time) how it is preparing to stop Russian oil and gas imports.
EU preparing to end dependence on Russian gas
According to the European Commission, the European Union (EU) may end its dependence on Russian gas by two-thirds this year and Russian supplies for the fuel before 2020. France Timmermans, deputy chairman of the Commission on Energy Transition, said the EU needed to be independent in energy choices.