In an effort to increase pressure on Russia in response to their unprovoked invasion of Ukraine, President Joe Biden on Tuesday announced a U.S. ban on the import of Russian oil, liquefied natural gas, and coal.
"We're banning all imports of Russian oil and gas and energy," Biden said from the White House. "That means Russian oil will no longer be acceptable at U.S. ports, and the American people will deal another powerful blow to Putin's war machine."
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.