Last-minute sanctions imposed on Russia to help Ukraine, says Biden

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Last-minute sanctions imposed on Russia to help Ukraine, says Biden - Business Standard

Quick Summary:

The United States on Friday imposed massive sanctions on Russia, targeting its energy sector, to help Ukraine maintain its independence and fight against Moscow, outgoing US President Joe Biden said Friday.

Ten days before passing on the baton to Donald Trump, the Biden Administration on Friday slapped sanctions on scores of companies and entities that were helping Russia in its export of energy, in particular gas.

"It is probable that gas prices could increase as much as USD 0.03 to USD 0.04 a gallon, but that's going to have a more profound impact on Russia's ability to continue to act in the way it's acting in the conduct of war, Biden said in response to a question.