President Biden's ban on importing Russian oil is one step closer to becoming law. The House passed it yesterday, sending the legislation to the Senate.
Congressman Richard Neal. the Chairman of the House Ways Committee on the House Floor last night said passage of the bill was the right thing to do.
"The Russian regime relies on energy sales to fund its offensive. This bill will cut off some of that revenue with a ban on the import of Russian oil and energy products into the United States. The more economic pain we inflict on Putin, the more pressure he will feel to finally end this campaign of terror on the Ukrainian people.
The legislation also takes steps to review Russia’s participation in the World Trade Organization. Membership in the WTO is a privilege that comes with responsibilities, and bad actors who destabilize global security should not enjoy the economic benefits of belonging to that body."
This is the latest blow to the Russian economy over its invasion of Ukraine. The President is banning imports of all Russian energy products, warning the move will lead to higher gas prices.
(Photo by Drew Angerer/Getty Images)
Photo: Getty Images