Business & Tech

Biden Bans Russian Oil And WA Gas Prices Could Break Records

Washington's gas prices are already nearing record-breaking highs, and could go even higher following Biden's announcement.

WASHINGTON — President Joe Biden banned all oil imports from Russia on Tuesday, a move that could further cripple the Russian economy but will also drive prices higher at American gas pumps.

"Defending freedom is going to cost," Biden said during a news conference. "It's going to cost us as well in the United States."

In Washington, Gov. Jay Inslee earlier this month issued a directive barring state agencies from signing contracts or making investments with entities controlled by the Russian government.

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"As the world responds to this crisis with humanitarian and military aid, Washington State must also do its part in this common effort," Inslee said in a statement.

But the federal government's ban on Russian oil imports is more likely to have an immediate, noticeable impact for most everyday Washingtonians. Biden has said he was initially reticent to pull the trigger on banning Russian oil imports out of a desire to limit the escalation of American gas prices. The national average gas price is holding firm just below $4 per gallon for the first time in more than a decade, and Washington has been above par, averaging $4.22 for a gallon of regular gasoline over the weekend.

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At this rate the state could break its all-time record soon, which AAA places at $4.35 per gallon reached in July 2008.

Biden's move follows pleas by Ukrainian President Volodymyr Zelenskyy to U.S. and Western officials to cut off the imports, which had been a glaring omission the massive sanctions put in place on Russia over the invasion. Energy exports have kept a steady influx of cash flowing to Russia despite otherwise severe restrictions on its financial sector.

In the delicate balance of isolating and crippling Russia's economy while stymieing inflation in America, Biden specifically highlighted the Russian energy carve-outs as a virtue because they would help to protect U.S. families and businesses from higher prices. But pressure from Zelenskyy and parts of the American public could end those carve-outs this week.

Reporting from the Associated Press, and assistance from Patch Editors Lucas Combos and Chris Mosby contributed to this report.

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