United States has imposed a restriction on Russian oil imports1 min read
President Biden imposed an embargo on Russian oil and natural gas imports into the United States, an increase in economic sanctions that may have ramifications both at home and throughout the world.
The decision might push domestic petrol prices over the national average of $4.17 per gallon, and it was coordinated with Britain, which stated that it will phase out Russian oil imports by the end of the year.
The Russian president, Vladimir Putin, approved a package of measures aimed at minimising the impact of sanctions and the withdrawal of foreign enterprises. They include increased pensions and regulatory relief for small and medium-sized companies.