New Delhi: In yet another setback for Vladimir Putin, United States President Joe Biden has banned Russian oil imports, another sanction that will hit Moscow's economy in response to its invasion of Ukraine, news agency AFP reported.
While making the announcement, Biden said: "We are banning all imports of Russian gas, including oil and energy.
"We are moving forward with this ban understanding that many of our European allies and partners may not be in a position to join us," Biden said.
We are enforcing the most significant package of economic sanctions in history, and it's causing significant damage to Russia's economy, US President Joe Biden further added.
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The move comes after Ukrainian President Volodmyr Zelenskyy urged US and Western countries to impose pressure on Russia by cutting off the imports that have kept a steady influx of cash flowing to Russia despite several sanctions.
The ban will include Russian oil, liquefied natural gas and coal imports, officials told Bloomberg on the condition of anonymity.
Biden was scheduled to speak at 10:45 am on Tuesday (US Time) in Washington.
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Meanwhile, the European Union (EU) has said that it is looking at ways to reduce its dependency on Russian gas, oil and coal.
So far, either US or EU has not announced any sanctions on Russia’s gas and oil imports due to concern over the economic impact, particularly on Europe which is heavily dependent on Russian oil and natural gas.
According to reports, nearly 60 per cent of Russia's oil exports go to Europe, while 8 per cent go to the United States. China get around 20 per cent of Russia's oil import.