US Ban on Russian Oil Creates Ripples in Global Economy

US Ban on Russian Oil Creates Ripples in Global Economy
A pumpjack on the outskirts of town at dawn in the Permian Basin oil field in the oil town of Midland, Texas, on Jan. 21, 2016. Spencer Platt/Getty Images
Autumn Spredemann
Updated:
Attempting to further sequester Russia’s economy U.S. President Joe Biden announced on March 8 the ban of all Russian oil imports as part of a multi-faceted response to the eastern nation’s military invasion of Ukraine.

While strict sanctions on Russian exports remain a cornerstone of Western efforts to stop President Vladimir Putin’s attack, it comes with a hefty price tag already felt by global consumers.

Autumn Spredemann
Autumn Spredemann
Author
Autumn is a South America-based reporter covering primarily Latin American issues for The Epoch Times.
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