What Russian ban means for prices, continued

The announcement of the impending US oil embargo propelled gasoline prices to their all-time high.

Oil was trading at around $90 a barrel a month ago, .

As customers reject Russian crude, prices have risen to roughly $130 per barrel.

If sanctions were applied, refiners feared they would be left with oil they couldn't sell.

If customers continue to avoid Russian crude, researchers warn that prices might rise to $160 or even $200 per barrel.

This trend may push gasoline costs in the US beyond $5 per gallon, a scenario that Biden and other politicians are desperately trying to avoid.

What ban on Russian oil means for prices

President Joe Biden said on Tuesday that the US will prohibit all Russian oil imports in retribution for Russia's invasion of Ukraine, but he that it will cost Americans money, notably at the petrol pump.

"Defending freedom is going to cost," he said.

Biden acknowledged that costs are growing, but warned the US energy industry against "excessive price increases" and customer exploitation.

How high could gas prices go? part three

"Forget the $4 per gallon mark," De Haan said, is getting closer to a national average of $4.50.

He said: "We’ve never been in this situation before, with this level of uncertainty… Americans will be feeling the pain of the rise in prices for quite some time."

Prices are projected to rise much higher than typical over the summer months, according to GasBuddy.

According to some estimates, the national average will hit $4.25 a gallon by Memorial Day.

Some analysts believe that an embargo on Russian oil imports might push prices beyond $5 per gallon.

How high could gas prices go? continued

Patrick De Haan, head of petroleum analysis at GasBuddy, : “Americans have never seen gasoline prices this high, nor have we seen the pace of increases so fast and furious.

That combination makes this situation all the more remarkable and intense, with crippling sanctions on Russia curbing their flow of oil, leading to the massive spike in the price of all fuels: gasoline, diesel, jet fuel, and more."

“It’s a dire situation and won’t improve any time soon.

The high prices are likely to stick around for not days or weeks, like they did in 2008, but months.

GasBuddy now expects the yearly national average to rise to its highest ever recorded.”

How high could gas prices go?

Regular for the first time in over 14 years on Sunday, and are currently about 50 percent higher than a year ago.

According to GasBuddy, Monday's national average of $4.104 a gallon set an all-time high, however, it is not adjusted for inflation.

Prices averaged $4.103 per gallon in 2008, which was the previous high; however, when adjusted for inflation, the record price would be around $5.24.

Even so, some analysts believe that figure might be surpassed, according to NBC Chicago.

What is the Unity Agenda? continued

"Support our veterans," Biden says as his third point.

He wants to learn more about the hazardous conditions created by the "wastes of war" and how they affect veterans' health in general.

The Unity Agenda's fourth and final section asks for the eradication of cancer "as we know it."

"Our goal is to cut the cancer death rate by at least 50 percent over the next 25 years, turn more cancers from death sentences into treatable diseases," he said.

What is the Unity Agenda?

President Biden mentioned his Unity Agenda for the Nation at his State of the Union speech in 2022, which consists of four things that Americans "can do together."

He also aims to address and defeat the opioid crisis.

Biden suggested that money for prevention, treatment, harm reduction, and rehabilitation be increased.

He wants to get rid of "outdated rules" that hinder doctors from recommending addiction therapy.

The president also wants the country to pay greater attention to mental health.

Why was Biden in Fort Worth, Texas?

President Joe Biden in Fort Worth shortly after 3pm, where he was shown how technology can aid veterans, according to star-telegram.com.

This includes an exoskeleton that helped a veteran walk again. He also noticed a person using a motorized wheelchair.

Before leaving for the Resource Connection of Tarrant County, Biden talked with veterans.

EPA proposes new rules

The Environmental Protection Agency said on Monday that it new regulations on tractor-trailers, buses, delivery vans, and moving vehicles.

The regulations, which are geared at reducing nitrogen oxide and carbon emissions, would make life difficult not only for working-class truck and bus drivers, who are already overworked due to Covid fatigue but also for all American shoppers.

Criminal offense to fly Russian aircraft in UK

Russian aircraft flying in UK airspace will now be a "criminal offense," according to British transport secretary Grant Shapps.

He shared the letter he issued to all British airports on Twitter, stating that, as of 5pm today, air traffic controllers have the authority to order Russian pilots to leave the area.

Pilots of aircraft registered in Russia or those "owned, operated or chartered by persons connected with Russia (as defined in the legislation)" are among those affected, according to the letter.

US-Russian citizen accused of working as agent

According to the US Department of Justice, a 61-year-old Russian national with Vladimir Putin and lobbyists to promote Russian propaganda in the US, unlawfully working as a foreign agent for Russia's government while running US-based organizations and an "I Love Russia" campaign.

Elena Branson, a dual citizen of the US and Russia, has been charged with functioning as a foreign government agent without alerting US authorities, conspiring to conduct visa fraud, lying to the FBI, and failing to register under the Foreign Agents Registration Act.

Civilian casualties reported in Russia conflict

According to the United Nations Human Rights Monitoring Mission, at least 1,335 civilians in Ukraine since the Russian invasion began on February 24.

According to the organization, 38 children have died and 71 have been wounded.

Lots of oil and petroleum from Russia

According to the US Energy Information Administration, around 245million barrels of crude oil and petroleum products from Russia in 2021.

This is a 24 percent increase over the previous year.

Western energy companies cut ties with Russia

Many Western oil corporations, notably ExxonMobil and BP, broke connections with Russia and limited imports even before the US embargo, according to .

Shell, which bought a supply of Russian oil recently, apologized for the decision on Tuesday in the face of international condemnation and promised to stop buying Russian energy supplies in the future.

According to preliminary figures from the US Energy Department, Russian crude imports fell to zero in the last week of February.

US estimates Russian military has lost assets

According to a US official familiar with the newest intelligence, the US thinks that up to 10 percent of Russian military equipment utilized in the invasion of Ukraine is either destroyed or unusable.

Tanks, planes, artillery, and other military assets were among the items lost.

This is nearly double the losses reported by when it was believed that Russia had lost 3 percent to 5 percent of its military assets.

According to the official, the US thinks that the Ukrainian military has lost a comparable amount of its assets.

Will the oil ban impact Russia?

The impact of the US banning Russian oil imports is likely to be minimal.

The US only imports a small amount of Russia's oil exports (under 10 percent).

Price of gasoline at all-time high

The national average price of gasoline in the United States broke the previous record on Tuesday, according to .

The previous all-time high was set in 2008 at $4.103 per gallon.

On Tuesday, it hit $4.104 per gallon.

That number will likely go up in the wake of the ban on Russian oil imports announced on Tuesday morning.

'Defending freedom is going to cost'

"We will not be part of subsidizing Putin's war," President Biden said during the speech in which he announced a ban on Russian oil on Tuesday.

He warned, however, that "defending freedom is going to cost" Americans when it comes to gas prices.

Sen Rubio urges 'American oil' replacement

On Twitter, Senator Marco Rubio said he is "glad Biden finally cut off the oil from #Russia."

However, in an accompanying video, he added that he thinks it should be replaced by American oil.

"We can easily replace that by just producing 200,000 barrels a day more of our own oil," he claimed.

"We can easily do that. Very quickly."

More than oil

The released on Tuesday revealed that it's not just Russian oil imports being banned from the United States.

In fact, Russian oil, liquefied natural gas, and coal imports to the US have all been banned by Executive Order.

The order specifically bans, "The importation into the United States of Russian crude oil and certain petroleum products, liquefied natural gas, and coal," the sheet noted.

'Targeting the main artery'

The Biden administration has previously announced sanctions against Russia, but this latest move to ban Russian oil imports is meant to be especially damaging to Russia's financial future.

"Today I am announcing the United States is targeting the main artery of Russia's economy," President Biden said in his speech on Tuesday.

"We're banning all imports of Russian oil and gas and energy."

Sen Markey approves of ban

Senator Markey of Massachusetts also approved of the ban on Russian oil imports announced by President Biden on Tuesday.

"Good! Now we need to make the ban on Russian fossil fuel permanent and rapidly accelerate the clean energy revolution in America," he said on .

"Union-powered, renewable energy will put us on the pathway to peace."

European Union more dependent

The European Union is much more reliant on Russian energy, according to the .

It's easier for the United States to ban Russian oil imports because the US produces more oil domestically.

The EU said it would switch to alternative supplies and expand clean energy more quickly to try to make Europe independent from Russian fossil fuels "well before 2030."

Thousands of people evacuated from Ukraine city

According to Kirill Timoshenko, deputy head of the Ukrainian presidential office, some 5,000 people and 1,000 automobiles were from Sumy in northeastern Ukraine on Tuesday.

On his Telegram channel, Timoshenko made the announcement. He also shared a video that appeared to show individuals fleeing the evacuations.

UK Business and Energy Secretary on Russian oil

The United Kingdom's Business and Energy Secretary Kwasi Kwarteng announced on Twitter that the UK will also ban Russian oil imports.

"The UK will phase out the import of Russian oil and oil products by the end of 2022," he announced.

"This transition will give the market, businesses and supply chains more than enough time to replace Russian imports – which make up 8% of UK demand."

"Businesses should use this year to ensure a smooth transition so that consumers will not be affected," he added.

"The government will also work with companies through a new Taskforce on Oil to support them to make use of this period in finding alternative supplies."