INTERNATIONAL: U.S. President Joe Biden has announced a ban on Russian oil and other energy imports on Tuesday,March 8, in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he has acknowledged would drive up U.S. energy prices.

Oil prices jumped on the news, with Benchmark Brent crude for May climbing by 5.4 percent to $129.91 a barrel.

President Biden has been working with allies in Europe, who are far more dependent on Russian oil, to isolate Russia's energy-heavy economy and Putin. Britain announced shortly before Biden's remarks that it would phase out the import of Russian oil and oil products by the end of 2022.

The U.S. president has said sanctions imposed by the United States and its allies had already caused the Russian economy to "crater." He has also said the latest moves had been made in close consultation with allies and partners around the world.

U.S. President Joe Biden has announced that the United States is targeting the main artery of Russia's economy. The United States is banning all imports of Russian oil and gas and energy. 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. This is a move that has strong bipartisan support in Congress. Americans have rallied support, the country is supporting the Ukrainian people and made it clear U.S. will not be part of subsidizing Putin's war. The president has made this decision in close consultation with the United States allies and its partners around the world, particularly in Europe, because a united response to Putin's aggression has been my overriding focus, to keep all NATO and all of the EU and totally united. And so U.S. is moving forward with this ban, understanding that many of the U.S. European allies and partners may not be in a position to join . The United States produces far more oil domestically than all of Europe, all the European countries combined. In fact, Biden says, a net exporter of energy so the United States can take this step when others cannot.

President Biden has made it clear the United States will share in the responsibility of caring for the refugees so the cost to not fall entirely on the European countries bordering Ukraine,:

The decision is not without cost. Putin's war is already hurting American families at the gas pump. Since Putin began his military buildup on Ukrainian borders, just since then, the price of the gas at the pump in America went up 75 cents. And with this action is going to go up further. Biden has said, he is going to do everything he can to minimize Putin's price hike. In coordination with United States partners, U.S. has already announced that they are releasing 60 million barrels of oil from their joint oil reserves.

The crisis is a stark reminder, to protect the economy over the long term and reminded that they need to become energy independent.

Russia may continue to grind out its advance at a horrible price. But this much is already clear: Ukraine will never be a victory for Putin. Putin may be able to take a city, but he'll never be able to hold the country. And if the United Stated do not respond to Putin's assault on global peace and stability today, the cost of freedom and to the American people will be even greater tomorrow. Biden says United States going to continue to support the brave Ukrainian people as they fight for their country. And call on Congress to pass the $12 billion Ukraine assistance package that has asked them .

The United States imported more than 20.4 million barrels of crude and refined products a month on average from Russia in 2021, about 8 percent of U.S. liquid fuel imports, according to the Energy Information Administration, and the ban is expected to send already high gasoline prices and inflation soaring. The United States also imports a negligible amount of coal from Russia.

Biden has predicted prices would rise further as a result of "Putin's war," but pledged to do all he could to minimize the impact on the American people. He also warned U.S. gas companies against exploiting the situation to engage in profiteering or price gouging.

The White House had been coordinating with U.S. congressional leaders working on fast-tracking bipartisan legislation to ban Russian imports, but the ban of Russian imports would make any such bill moot.

Biden has said that the Ukraine crisis should spur a move for energy independence by the US and Europe and a move to a green economy.

Republican lawmakers took to social media to welcome the decision, while criticizing Biden's green energy policies, and calling for the administration to support more oil and gas production at home.

^{PHOTO: U.S. PRESIDENT JOE BIDEN SPEAKING AT WHITE HOUSE, ANNOUNCING BAN ON RUSSIAN ENERGY IMPORTS}