Politics

‘We Need To Be Honest’: Biden Suggests Us Gas Prices Will Increase Because Of His Russian Sanctions

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President Joe Biden suggested that Americans may be negatively impacted at the pump as a result of a sanctions package targeting Russia he unveiled Tuesday.

“As we respond, my administration is using every tool at our disposal to protect American businesses and consumers from rising prices at the pump,” the president remarked at the White House on Tuesday. “As I said last week, defending freedom will have costs for us as well and here at home. We need to be honest about that.”

“But as we do this, I’m going to take robust action to make sure the pain of our sanctions is targeted at Russian economy, not ours,” Biden continued. “We are closely monitoring energy supplies for any disruption. We are executing a plan in coordination with major oil-producing consumers and producers toward a collective investment to secure stability in global energy supplies.”

Biden didn’t elaborate on the plan to cut pump prices, but said he wanted to “limit the pain” to the American people.

The White House didn’t immediately respond to a request for comment from the Daily Caller News Foundation about how the president planned to work with oil producers to keep gasoline prices low.

During his remarks, Biden laid out a first round of sanctions his administration would immediately levy against Russia in response to the nation’s invasion of separatist-controlled territories in Ukraine Monday. The Department of the Treasury later detailed the sanctions which target several major Russian financial institutions and powerful elites close to Russian President Vladimir Putin.

Among the sanctions against th… (Read more)

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