On March 8, Joe Biden, US President, announced a ban on imports of Russian oil in an address from the White House. This is seen as an assault on Moscow's economic lifeline. US President Joe Biden announced a ban on US imports of Russian oil, gas and coal. President Biden tweeted, “In coordination with our partners, we have already announced a collective release of 60 million barrels of oil from our Strategic Petroleum Reserves.” On March 8, Shell pledged to stop buying Russian crude oil. Meanwhile, Russia threatened to cut natural gas supplies to Europe in retaliation. Russian President Vladimir Putin launched an attack on Ukraine on February 24. Watch the video to know more.
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