the sanctions and punitive measures against Moscow announced in the event of a Russian invasion of Ukraine would according to US President Joe Biden also have consequences for US citizens – for example higher fuel prices. If Russia invades Ukraine, “there will be consequences here at home,” Biden said at the White House on Tuesday. “The American people understand that defending democracy and freedom is never without cost.”
“I’m not going to pretend it doesn’t cause pain; there could be an impact on our energy prices,” Biden warned. His government is coordinating with major energy producers worldwide to compensate for possible distortions. In that case, he was also determined to use all the means at his disposal to “provide relief at the gas station,” Biden promised.
The US imports large quantities of crude oil from Russia. For Europe, Russia is very important as a natural gas producer. Biden’s government has made efforts to allow more LNG shipments to Europe in the event of a Russian supply failure.