USA (The Stellar News) Saksham Kalia: Amid the Aggressive invasion of Russia in Ukraine, US is continuously imposing sanctions on Russia. US Government led by President Joe Biden on Wednesday said they are going to hit on the main artery of Russian economy and will ban import of oil and gas.
The decision of US will impact the Russian economy but will also impact the position of oil and gas availability in US. As US imports its 30% of oil and gas from Russia and cutting that import means cutting that 30% of availability in the country.
In the midst of war, the crude oil prices are increasing rapidly in the international market because of Russian-Ukraine war, currently cruising on $130. This clearly indicates that the common people is going to witness high oil and gas prices in upcoming days if war persists.
