Ukraine Update: U.S. May Go Alone on Russia Oil Ban; Crude Soars
WATCH: Putin says the war in Ukraine will continue until Kyiv accepts his demands and halts its resistance. Bill Faries reports.
Source: Bloomberg
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The U.S. House is exploring a bill that would ban the import of Russian oil and energy products, a move that could add to economic pressure as more companies pull out of the country in response to Moscow’s invasion of Ukraine.
Oil soared to just shy of $140 a barrel after the White House said it was considering an embargo on Russian supplies. The Biden administration is mulling making the move on its own, if it can’t get its European allies on board initially, two people familiar with the matter said.