In a much-anticipated action, President Biden announced a prohibition on all Russian oil and gas imports. The United States relies on Russia oil for approximately 8 percent of its needs.
Simultaneously, the United Kingdom announced it will reduce oil and gas imports from Russia over the next nine months. The UK relies on Russian oil and gas imports for approximately 18 percent of its energy needs.
The latest action is another in step with recent actions by global companies withdrawing from Russia. So far, BP, Shell, Visa, Mastercard, McDonalds and Coca Cola have announced their intention to withdraw from Russia. The […]
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See also Japan joins U.S., others in excluding Russia from SWIFT system
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