Biden comments on the price of the anti-Russian sanctions

Biden comments on the price of the anti-Russian sanctions

The president claimed that the US government was aware that its actions would result in a worldwide gasoline crisis.

President Joe Biden said on Wednesday that Washington was aware that sanctions against Russia will have repercussions for the US and raise oil costs.

Speaking at the White House, Biden attributed the rise in US fuel prices to Russia and warned that the expense of supporting Ukraine would be felt by both the American people and the rest of the world.

He said that the US Congress nearly unanimously supported the oil boycott “knowing full well the cost,” saying “we cut off Russian oil from the United States, and our colleagues in Europe did the same, knowing that we would see higher gas prices.”

Currently, the cost of a gallon of gasoline in the US is around $5, up from about $3 a year ago. The US government, according to Biden, is making every effort “to lessen this misery at the pump.” In addition to suggesting a three-month suspension of the federal 18-cent gas tax, the president urged the states to stop their fuel-related taxes. Additionally, Biden asked oil refineries to expand their capabilities.

In the winter, as oil prices spiked globally and coronavirus limitations were lifted, fuel prices started to rise in the US. After Western nations started to avoid Russian oil, sanctions against Russia made the situation worse.

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