BEEN PRESSURING THE
ADMINISTRATION IN RECENT DAYS TO
TAKE THAT VERY STEP.
AS A NEW WAY TO PUNISH VLADIMIR
PUTIN AND RUSSIA OVER THE WAR IN
UKRAINE.
OF COURSE A LOT OF AMERICANS
WILL RECOGNIZE RIGHT AWAY THAT
THIS WILL IMPACT GAS PRICES
WHICH ARE ALREADY SKYROCKETING.
THE NAT GAS AVERAGE HIT AN
ALL-TIME DOLLAR HIGH OVERNIGHT.
$4.17 A GALLON.
GAS PRICES ALREADY ON THE RISE
AND THAT IS ONLY GOING IN ONE
DIRECTION.
KRISTEN WELKER, THE PRESIDENT
CLEARLY UNDER PRESSURE NOT JUST
FROM UKRAINIAN OFFICIALS BUT
LAWMAKERS IN BOTH PARTIES.
AND WE'RE ALSO HEARING THIS
MORNING THAT THE UK AND THE EU
ARE ALSO TAKING SOME STEPS.
>> THEY ARE, SAVANNAH.
THAT'S RIGHT.
TO THAT LAST POINT FIRST.
THAT UK AND EU ANNOUNCING THEY
ARE GOING TO PHASE OUT RUSSIAN
OIL OVER TIME.
WHAT PRESIDENT BIDEN IS
ANNOUNCING IS A BAN ON RUSSIAN
OIL.
THESE ARE SOME OF THE MOST
PUNITIVE MEASURES THAT WE WILL
HAVE SEEN FROM THE UNITED STATES
AND FROM ITS EUROPEAN ALLIES TO
DATE.
BECAUSE THIS REALLY IS GOING HIT
AT THE HEART OF RUSSIA'S
ECONOMY.
BUT IT DOES COME AGAINST THE
BACK DROP SAVANNAH THAT YOU
MENTIONED.
MOUNTING PRESSURE FROM
REPUBLICANS.
AND ALSO DEMOCRATS, INCLUDING
HOUSE SPEAKER NANCY PELOSI WHO
SAID IT IS TIME TO BAN RUSSIAN
OIL.
WE KNOW THERE IS LEGISLATION
PENDING IN CONGRESS AS WELL BUT
IN THIS INSTANCE THE PRESIDENT
IS GOING TAKE THIS STEP
UNILATERALLY WITHOUT THE SUPPORT
OF CONGRESS.
WHAT WILL THE IMPACT BE ON
AMERICANS.
>> TODAY I'M ANNOUNCING THE
UNITED STATES IS TARGETING THE
MAIN ARTERY OF RUSSIA'S ECONOMY.
WE'RE BANNING ALL IMPORTS OF
RUSSIAN OIL AND GAS AND ENERGY.
THAT MEANS RUSSIAN OIL WILL NO
LONGER BE ACCEPTABLE AT U.S.
PORTS AND THE AMERICAN PEOPLE
WILL DEAL ANOTHER POWERFUL BLOW
TO PUTIN'S WAR MACHINE.
THIS IS A MOVE THAT HAS STRONG
BIPARTISAN SUPPORT IN CONGRESS
AND I BELIEVE IN THE COUNTRY.
AMERICANS HAVE RALLIED TO
SUPPORT THEIR UKRAINIAN PEOPLE
AND MADE IT CLEAR WE WILL NOT BE
PART OF SUBSIDYING PUTIN'S WAR.
WE MADE THIS DECISION IN CLOSE
CONSULTATION WITH ALLIES AND
PARTNERS AROUND THE WORLD,
PARTICULARLY IN EUROPE.
BECAUSE A UNITED RESPONSE TO
PUTIN'S AGGRESSION HAS BEEN MY
OVER RIDING FOCUS TO KEEP ALL
NATO AND ALL OF EU AND OUR
ALLIES TOTALLY UNITED.
WE'RE MOVING FORWARD WITH THIS
BAN UNDERSTANDING THAT MANY OF
OUR EUROPEAN ALLIES AND PARTNERS
MAY NOT BE IN A POSITION TO JOIN
US.
THE UNITED STATES PRODUCES FAR
MORE OIL DOMESTICALLY THAN ALL
THE EUROPEAN COUNTRIES COMBINED.
IN FACT WE ARE A NET EXPORTER OF
ENERGY.
SO WE CAN TAKE THIS STEP WHEN
OTHERS CANNOT.
BUT WE'RE WORKING CLOSELY WITH
EUROPE AND OUR PARTNERS TO
DEVELOP A LONG-TERM STRATEGY TO
REDUCE THEIR DEPENDENCE ON
RUSSIAN ENERGY AS WELL.
OUR TEAMS ARE ACTIVELY
DISCUSSING HOW TO MAKE THIS
HAPPEN.
AND TODAY WE REMAIN UNITED,
REMAIN UNITED IN OUR PURPOSE TO
KEEP PRESSURE MOUNTING ON PUTIN
AND A HIS WAR MACHINE.
THAT IS STEP WE'RE TAKING TO
INFLICT FURTHER PAIN ON PUTIN.
BUT THERE WILL BE COSTS HERE AS
WELL IN THE UNITED STATES.
I SAID I WOULD LEVEL WITH THE
AMERICAN PEOPLE FROM THE
BEGINNING AND WHEN I FIRST SPOKE
TO THIS I SAID DEFENDING FREEDOM
IS GOING TO COST.
COST US AS WELL IN THE UNITED
STATES.
REPUBLICANS AND DEMOCRATS ALIKE
UNDERSTAND THAT.
REPUBLICANS AND DEMOCRATS ALIKE
HAVE BEEN CLEAR THAT WE MUST DO
THIS.
OVER THE LAST WEEK I'VE SPOKEN
WITH PRESIDENT ZELENSKYY SEVERAL
TIMES, TO HEAR FROM HIM ABOUT
THE SITUATION ON THE GROUND AND
TO CONSULT AND CONTINUE TO
CONSULT WITH OUR EUROPEAN ALLIES
AND ABOUT U.S. SUPPORT FOR
UKRAINE AND UKRAINIAN PEOPLE.
THUS FAR WE'VE PROVIDED MORE
THAN $1 BILLION IN SECURITY
ASSISTANCE TO UKRAINE.
SHIPMENTS OF DEFENSIVE WEAPONS
ARE ARRIVING IN UKRAINE EVERY
DAY FROM THE UNITED STATES.
AND WE THE UNITED STATES ARE THE
ONES COORDINATING THE DELIVERY
OF OUR ALLIES AND PARTNERS OF
SIMILAR WEAPONS.
FROM GERMAN TO FINLAND TO THE
NETHERLANDS.
WE'RE WORKING THAT OUT.
WE'RE ALSO PROVIDING
HUMANITARIAN SUPPORT FOR THE
UKRAINIAN PEOPLE.
BOTH THOSE STILL IN UKRAINE AND
THOSE WHO HAVE FLED SAFELY TO A
NEIGHBORING COUNTRY.
WE'RE WORKING WITH HUMANITARIAN
ORGANIZATIONS TO SURGE TENS OF
THOUSANDS OF TONS OF FOOD, WATER
AND MEDICAL SUPPLIES INTO
UKRAINE.
AND WITH MORE ON THE WAY.
OVER THE WEEKEND I SENT
SECRETARY BLINKEN TO VISIT OUR
BORDER BETWEEN -- THE BORDER
BETWEEN POLAND AND UKRAINE AND
TO MOLDOVA TO SEE WHAT THE
SITUATION WAS FIRST HAND AND
REPORT BACK.
GENERAL MILLY, CHAIRMAN OF JOINT
CHIEFS OF STAFF, OUR DEFENSE
DEPARTMENT WAS ALSO IN EUROPE
MEETING WITH HIS COUNTERPARTS
AND ALLIES ON NATO'S EASTERN
FLANK TO REASSURE THEM THOSE
COUNTRIES BORDERING RUSSIA,
NEIGHBORING COUNTRIES THAT WE
WILL KEEP OUR NATO COMMITMENT.
SACRED COMMITMENT OF ARTICLE 5.
VICE PRESIDENT HARRIS IS GOING
TO BE TRAVELING TO MEET WITH
ALLIES IN POLAND AND ROMANIA
LATER THIS WEEK AS WELL.
I'VE MADE IT CLEAR THE UNITED
STATES WILL SHARE IN THE
RESPONSIBILITY OF CARING FOR THE
REFUGEES SO THE COSTS DO NOT
FALL ENTIRELY ON THE EUROPEAN
COUNTRIES BORDERING UKRAINE.
AND YESTERDAY, I SPOKE WITH MY
COUNTERPARTS IN FRANCE, GERMANY
AND THE UNITED KINGDOM ABOUT
RUSSIA'S ESCALATING VIOLENCE
AGAINST UKRAINE AND THE STEPS
THAT WE'RE GOING TAKE TOGETHER
WITH OUR ALLIES AND PARTNERS
AROUND THE WORLD TO RESPOND TO
THIS AGGRESSION.
WE ARE ENFORCING THE MOST
SIGNIFICANT PACKAGE OF ECONOMIC
SANCTIONS IN HISTORY.
AND IT IS CAUSING SIGNIFICANT
DAMAGE TO RUSSIA'S ECONOMY.
IT HAS CAUSED THE RUSSIAN
ECONOMY TO, FRANKLY, CRATER.
THE RUSSIAN RUBLE IS NOW DOWN BY
50% SINCE PUTIN ANNOUNCED HIS
WAR.
ONE RUBLE IS NOW WORTH LESS THAN
ONE AMERICAN PENNY.
ONE RUBLE IS LESS THAN ONE
AMERICAN PENNY.
AND PREVENTING RUSSIA'S CENTRAL
BANK FROM PROPPING UP THE RUBLE
AND TO KEEP ITS VALUE UP.
THEY ARE NOT GOING TO BE ABLE TO
DO THAT NOW.
WE CUT RUSSIA'S LARGEST BANKS
FROM THE INTERNATIONAL FINANCIAL
SYSTEM AND HAS CRIPPLED THEIR
ABILITY TO DO BUSINESS WITH THE
REST OF THE WORLD.
IN ADDITION, WE'RE CHOKING OFF
RUSSIA'S ACCESS TO TECHNOLOGY,
LIKE SEMI CONDUCTORS THAT ARE --
AND SAP ITS ECONOMIC STRENGTH
AND WEAKEN ITS MILITARY FOR
YEARS TO COME.
MAJOR COMPANIES ARE PULLING OUT
OF RUSSIA ENTIRELY.
OVER THE WEEKEND, VISA, MASTER
CARD, AMERICAN EXPRESS, THEY ALL
E SUSPENDED THEIR SERVICES IN
RUSSIA.
ALL OF THEM.
JOINING A GROWING LIST OF
AMERICAN AND GLOBAL COUNTRIES
FROM FORD TO NIKE TO APPLE.
THEY HAVE SUSPENDED THEIR
OPERATIONS IN RUSSIA.
THE U.S. STOCK EXCHANGE HAS
HALTED TRADING OF MANY RUSSIAN
SECURITIES.
AND THE PRIVATE SECTOR IS UNITED
AGAINST RUSSIA'S VICIOUS WAR OF
CHOICE.
UNDER THE CIRCUMSTANCES
DEPARTMENT OF JUSTICE HAS
ASSEMBLED A DEDICATED TASK FORCE
TO GO AFTER THE CRIMES OF
RUSSIAN OLIGARCHS, AND WE'RE
JOINING WITH EUROPEAN ALLIES TO
FIND AND SEIZE THEIR YACHTS,
THEIR LUXURY APARTMENTS, THEIR
PRIVATE JETS AND ALL THEIR ILL
BEGOTTEN GAINS TO MAKE SURE THEY
SHARE IN THE PAIN OF PUTIN'S
WAR.
THESE BY THE WAY ARE GIANT
YACHTS.
YOU PUT THEM SOME OF THEM IN THE
PRESSES.
I THINK I READ ONE WAS OVER 400
FEET LONG.
WORTH HUNDRED OF MILLIONS OF
DOLLARS.
THE DECISION TODAY IS NOT
WITHOUT COSTS HERE AT HOME.
PUTIN'S WAR IS ALREADY HURTING
AMERICAN FAMILIES AT THE GAS
PUMP.
SINCE PUTIN BEGAN HIS MILITARY
BUILD UP ON UKRAINIAN BORDERS.
JUST SINCE THEN THE PRICE IN THE
GAS AT THE PUMP WENT UP 75 CENTS
AND WITH THIS ACTION IS GOING TO
GO UP FURTHER.
I'M GOING TO DO EVERYTHING I CAN
TO MINIMIZE PUTIN'S PRICE HIKE
HERE AT HOME.
WE'VE ALREADY ANNOUNCED WE'RE
RELEASING 60 MILLION BARRELS OF
OIL FROM OUR JOINT RESERVES.
HALF OF THAT, 30 BILLION IS
COMING FROM THE UNITED STATES.
AND WE'RE TAKING STEPS TO ENSURE
THE RELIABLE SUPPLY OF GLOBAL
ENERGY.
WE'RE ALSO GOING TO KEEP WORKING
WITH EVERY TOOL AT OUR DISPOSAL
TO PROTECT AMERICAN FAMILIES AND
BUSINESSES.
LET ME SAY THIS.
TO THE OIL AND GAS COMPANIES,
AND TO THE FINANCE FIRMS THAT
BACK THEM, WE UNDERSTAND PUTIN'S
WAR AGAINST THE PEOPLE OF
UKRAINE IS CAUSING PRICES TO
RISE.
WE GET THAT.
THAT'S SELF EVIDENT.
BUT, BUT, BUT, BUT.
IT IS NO EXCUSE TO EXERCISE
EXCESSIVE PRICE INCREASES OR
PADDING PROFITS OR ANY KIND OF
EFFORT TO EXPLOIT THIS SITUATION
OR AMERICAN CONSUMERS.
RUSSIA'S AGGRESSION IS COSTING
US ALL.
AND IT IS NO TIME FOR
PROFITEERING OR PRICE GOUGING.
I WANT TO BE CLEAR ABOUT WHAT WE
WILL NOT TOTAL.
BUT I ALSO WANT TO ACKNOWLEDGE
THOSE FIRMS AND OIL AND GAS
INDUSTRIES THAT ARE PULLING OUT
OFF RUSSIA AND JOINING OTHER
BUSINESSES THAT ARE LEADING BY
EXAMPLE.
THIS IS A TIME WHEN WE HAVE TO
DO OUR PART.
AND MAKE SURE WE'RE NOT TAKING
ADVANTAGE.
LACK, LET ME BE CLEAR ABOUT TWO
OTHER POINTS.
FIRST, IT IS SIMPLY NOT TRUE
THAT MY ADMINISTRATION OR
POLICIES ARE HOLDING BACK
DOMESTIC ENERGY PRODUCTION.
THAT IS SIMPLY NOT TRUE.
EVEN AMID THE PANDEMIC,
COMPANIES IN THE UNITED STATES
PUMPED MORE OIL DURING MY FIRST
YEAR IN OFFICE THAN THEY DID
DURING MY PREDECESSOR'S FIRST
YEAR.
WE'RE APPROACHING RECORD LEVELS
OF OIL AND GAS PRODUCTION IN THE
UNITED STATES AND WE'RE ON TRACK
TO SET RECORD OIL PRODUCTION
NEXT YEAR.
IN THE UNITED STATES, 90% OF ON
SHORE OIL PRODUCTION TAKES PLACE
ONLAND HASN'T OWNED BY THE
FEDERAL GOVERNMENT.
AND OF THE REMAINING 10% THAT
OCCURS ON FEDERAL LAND, THE OIL
AND GAS INDUSTRY HAS MILLIONS OF
ACRES LEASED.
THEY HAVE 9,000 PERMITS TO DRILL
NOW.
THEY COULD BE DRILLING RIGHT
NOW, YESTERDAY, LAST WEEK, LAST
YEAR.
THEY HAVE 9,000, TO DRILL ON
SHORE, THAT ARE ALREADY
APPROVED.
SO LET ME BE CLEAR.
LET ME BE CLEAR.
THEY ARE NOT USING THEM FOR
PRODUCTION NOW.
THAT IS THEIR DECISION.
THESE ARE THE FACTS.
WE SHOULD BE HONEST ABOUT THE
FACTS.
SECOND, THIS CRISIS IS A STARK
REMINDER TO PROTECT OUR ECONOMY
OVER THE LONG-TERM WE NEED TO
BECOME ENERGY INDEPENDENT.
I'VE HAD NUMEROUS CONVERSATIONS
OVER THE LAST THREE MONTHS WITH
OUR EUROPEAN FRIENDS OF HOW THEY
HAVE TO WEAN THEMSELVES OFF OF
RUSSIAN OIL.
IT IS JUST NOT TENABLE.
IT SHOULD MOTIVATE US TO
ACCELERATE A TRANSITION TO CLEAN
ENERGY.
THIS IS A PROSPENGTIVE AS OUR
EUROPEAN ALLIES SHARE AND A
FUTURE WHERE TOGETHER WE CAN
ACHIEVE GREATER INDEPENDENCE.
LOOSENING ENVIRONMENTAL
REGULATIONS ARE PULL -- WILL NOT
LOWER ENERGY PRICES FOR
FAMILIES.
BUT TRANSFORMING OUR ECONOMY TO
RUN ON ELECTRIC VEHICLES POWERED
BY CLEAN ENERGY, WITH TAX
CREDITS TO HELP AMERICAN
FAMILIES WINTERIZE HOMES AND USE
LESS ENERGY.
THAT WILL HELP.
AND IF WE CAN, IF WE DO WHAT WE
CAN, IT WILL MEAN THAT NO ONE
HAS TO WORRY ABOUT PRICE AT THE
GAS PUMP IN THE FUTURE.
THAT WILL MEAN TYRANTS LIKE
PUTIN WON'T BE ABLE TO USE
FOSSIL FUELS AS WEAPONS AGAINST
OTHER NATIONS.
AND IT WILL MAKE AMERICA A WORLD
LEADER, MANUFACTURING AND
EXPORTING CLEAN ENERGY
TECHNOLOGY OF THE FUTURE TO
COUNTRIES ALL AROUND THE WORLD.
THIS IS THE GOAL WE SHOULD BE
RACING TOWARDS.
OVER THE LAST TWO WEEKS,
UKRAINIAN PEOPLE HAVE INSPIRED
THE WORLD.
AND I MEAN THAT IN A LITERAL
SENSE.
THEY HAVE INSPIRED THE WORLD
WITH THEIR BRAVERY, PATRIOTISM,
THEIR DEFIANT DETERMINATION TO
LIVE FREE.
PUTIN'S WAR, PUTIN'S WAR HAS
CAUSED ENORMOUS SUFFERING AND
NEEDLESS LOSS OF LIFE ON WOMEN,
CHILDREN AND EVERYONE IN
UKRAINE.
BOTH UKRAINE AND I MIGHT ADD
RUSSIANS.
UKRAINIAN LEADERS YOU CAN AS
WELL AS LEADERS AROUND THE WORLD
HAVE REPEATEDLY CALLED FOR A
CEASE FIRE.
FOR HUMANITARIAN RELIEF.
FOR REAL DIPLOMACY.
BUT PUTIN SEEMS DETERMINED TO
CONTINUE ON HIS MURDEROUS PATH
NO MATTER THE COST.
PUTIN IS NOW TARGETING CITIES
AND HAS BEEN TARGETING CITIES OF
CIVILIAN SCHOOLS, HOSPITALS,
APARTMENT BUILDINGS.
LAST WEEK HE ATTACKED THE
LARGEST NUCLEAR POWER PLANT IN
EUROPE WITH APPARENT DISREGARD
FOR POTENTIAL TO TRIGGERING A
NUCLEAR MELTDOWN.
HE'S ALREADY TURNED TWO
UKRAINIANS INTO THE REFUGEES.
RUSSIA MAY CONTINUE TO GRIND OUT
ITS ADVANCE AT A HORRIBLE PRICE.
BUT THIS MUCH IS ALREADY CLEAR.
UKRAINE WILL NEVER BE A VICTORY
FOR PUTIN.
PUTIN MAY BE ABLE TO TAKE A
CITY.
BUT HE'LL NEVER BE ABLE TO HOLD
THE COUNTRY.
AND IF WE DO NOT RESPOND TO
PUTIN'S ASSAULT ON GLOBAL PEACE
AND STABILITY TODAY, THE COST OF
FREEDOM AND TO THE AMERICAN
PEOPLE WILL BE EVEN GREATER
TOMORROW.
SO WE'RE GOING TO CONTINUE TO
SUPPORT THE BRAVE UKRAINIAN
PEOPLE AS THEY FIGHT FOR THEIR
COUNTRY.
AND I CALL ON CONGRESS TO PASS
THE $12 BILLION UKRAINIAN
ASSISTANCE PACKAGE THAT I'VE
ASKED THEM FOR OF LATE.
UKRAINIAN PEOPLE ARE
DEMONSTRATING BY THEIR PHYSICAL
COURAGE THEY ARE NOT ABOUT TO
JUST LET PUTIN TAKE WHAT HE
WANTS.
THAT IS CLEAR.
THEY WILL DEFEND THEIR FREEDOM,
THEIR DEMOCRACY, THEIR LIVES.
AND WE'RE GOING TO KEEP
PROVIDING SECURITY ASSISTANCE,
ECONOMIC ASSISTANCE AND
HUMANITARIAN ASSISTANCE.
WE'RE GOING SUPPORT THEM AGAINST
TYRANNY, OPPRESSION, VIOLENT
ACTS OF SUBJUGATION, PEOPLE
EVERYWHERE.
AND I THINK MAYBE SURPRISED EVEN
SOME OF YOU ALL, PEOPLE
EVERYWHERE ARE SPEAKING UP FOR
FREEDOM.
AND WHEN THE HISTORY OF THIS WAR
IS WRITTEN, PUTIN'S WAR ON
UKRAINE WILL HAVE LEFT RUSSIA
WEAKER AND THE REST OF THE WORLD
STRONGER.
MAY GOD BLESS ALL THESE IN
UKRAINE.
AND NOW I'M OFF TO TEXAS.
THANK YOU VERY MUCH.
I KNOW THERE --
I KNOW THERE'S A LOT OF
QUESTIONS.
BUT THERE IS A LOT MORE THAT HAS
TO BE MADE CLEAR AND I'M GOING
HOLD ON THAT UNTIL WE GET MORE
INFORMATION.
THANK YOU.
APPRECIATE IT.
>>> PRESIDENT BIDEN IN THE
ROOSEVELT ROOM AT THE WHITE
HOUSE ANNOUNCING THE IMMEDIATE
BAN ON RUSSIAN OIL IMPORTS INTO
THE UNITED STATES.
CURRENTLY RUSSIA IMPORTS ACCOUNT
FOR ABOUT 8% OF OUR CONSUMPTION
HERE IN THIS COUNTRY.
600,000 BARRELS PLUS EVERY DAY.
THAT IS STOPPING.
AND THE PRESIDENT WARNED THAT
DEFENDING FREEDOM IS GOING COST.
THAT GAS PRICES WHICH HAVE
ALREADY BEEN SOARING IN LIGHT OF
THE WAR IN UKRAINE WILL CONTINUE
TO DO SO.
BUT HE SAID, ADS FOR AMERICA,
"WE WON'T SUBSIDIZE PUTIN'S
WAR."
AND STEPHANIE, THE PRACTICAL
EFFECT OF.
THIS OIL IMPORTS OF RUSSIA
ACCOUNT FOR A SMALLER PORTION OF
OUR CONSUMPTION IN THE COUNTRY
BUT IT WILL PACK A PUNCH AND NOW
WE'RE SEEING THE UK AND EU
TAKING SOME STEPS, ALTHOUGH NOT
QUITE AS DRAMATIC.
>> ABSOLUTELY.
SAVANNAH.
AND THE PRESIDENT HIT ALL THE
MARKS HE NEEDED TO ON THIS
SPEECH.
WELL, WE'RE NOT GOING TO HAVE A
SUPPLY ISSUE HERE.
WE MAKE AN AMPLE AMOUNT HERE IN
THE U.S.
AS HE SAID.
WE JUST USE A SMALL PORTION OF
OIL AND GAS.
AS OPPOSED TO EUROPE WHO USES A
LOT MORE.
BUT THE PRICE IS SET GLOBALLY
AND WE'RE ALREADY SEEING PRICES
GO UP.
WE DON'T EXPECT THAT TO CHANGE
AND THE PRESIDENT SAID IT.
THIS IS THE CURRENT PRICE OF
WAR.
AND HITTING RUSSIA, CUTTING OFF
THEIR BIG ECONOMIC ARTERY IS THE
HOPE THAT IT IS GOING TO CAUSE
REAL PAIN OVER THERE.
HE ALSO REMINDED US THAT THIS IS
A TIME WHEN OUR BIG OIL AND
NATURAL GAS PRODUCERS HERE,
THOSE BIG COMPANIES, THEY CANNOT
BE PRICE GOUGING.
EXPECT HIM TO USE HIS BULLY
PULPIT TO PUSH THEM.
THAT THOSE BUSINESSES, OF COURSE
THEY NEED TO MAKE PROFITS BUT
THIS IS NOT A TIME FOR PRICE
GOUGING AND HE REMINDED THE
AMERICAN PEOPLE THIS IS GOING TO
BE DIFFICULT.
WE ARE GOING TO BE PAYING MORE.
BUT REMEMBER WE DON'T HAVE OUR
SOLDIERS ON THE LINE COSTING
THEIR LIVES, AND THIS IS
SOMETHING WE'RE GOING TO BE
LIVING WITH FOR THE FORESEEABLE
FUTURE.
IT IS GOING TO BE EXPENSIVE FOR
THE AMERICAN PEOPLE.
>> A SHOT ACROSS THE BOW FROM
THE PRESIDENT.
OFF THE MAKE A PROFIT.
YOU DON'T HAVE TO PAD YOUR
PROFIT SO CLEAR SIGN FROM THE
WHITE HOUSE THERE.
ALSO INTERESTING MESSAGING THE
PRESIDENT CALLED IT PUTIN'S
PRICE HIKE.
OF COURSE LAYING THE BLAME
SQUARELY ON THE PERSON WHO
STARTED THIS WAR, VLADIMIR
PUTIN.
STEPHANIE, THANK YOU.
I WANT TO TIRN TO NBC'S RICHARD
ENGEL ON THE GROUND FOR US IN
UKRAINE'S CAPITAL CITY OF KYIV.
THIS IS SOMETHING MANY CRANANCE
HAVE BEEN ASKING FOR.
ABOUT THE MILITARY ACTION THEY
ARE HOPING MORE.
BUT IT IS STRIKING AT THE HEART
OF RUSSIA'S ECONOMY.
HOW DUKE IT WILL GO OVER?
THERE.
>> Reporter: IT IS GOING OVER
VERY WELL.
I CAN TELL YOU THAT BECAUSE THIS
MOVE WAS ANTICIPATED AND
UKRAINIAN OFFICIALS WERE ALREADY
THANKING THE UNITED STATES FOR
TAKING THIS MOVE.
ALREADY SAYING THEY FULLY
ENDORSE IT.
AND AS YOU WERE SAYING, THEY
WANT MORE.
AND SPECIFICALLY WANT MORE
WEAPONS.
EVERY SOLDIER WE SPEAK TO, EVERY
POLITICIAN SAID THAT UKRAINIAN
FORCES ARE DOING WELL HOLDING
BACK THE RUSSIAN ADVANCE ON THE
GROUND.
SO FAR THE RUSSIAN OFFENSIVE HAS
BEEN FAIRLY INEPT.
THEY HAVE NOT BEEN ABLE TO TAKE
ANY MAJOR CITIES.
BUT WHAT THEY WANT NOW IN
ADDITION TO THESE ECONOMIC
SANCTION IS A NO-FLY ZONE OR
WEAPONS SYSTEMS TO PROTECT FROM
AIRCRAFT AND INCOMING MISSILES.
>> NATO MADE CLEAR THE NO-FLY
ZONE IS NOT GOING TO BE
FORTHCOMING SO WE'LL CONTINUE TO
WATCH THAT AS WE SEE THE
RUSSIANS TAKE MORE AND MORE
BRUTAL STEPS TO TRY AND GET
CONTROL OF UKRAINE.
RICHARD THANK YOU VERY MUCH.
AND AGAIN WITH THE NEWS JUST OUT
THE PRESIDENT HAS ANNOUNCED A
BAN ON RUSSIAN OIL IMPORTS INTO
THE UNITED STATES.
UP UNTIL NOW, THE UNITED STATES
WAS BUYING ABOUT 637,000 BARRELS
OF OIL FROM USH EVERY DAY, EVEN
DURING THIS WAR.
THAT STOPS TODAY.
THE UK ANNOUNCED STEPS.
THE EU HAS ANNOUNCED STEPS.
WE'LL CONTINUE TO WATCH IT.
THE PRESIDENT LAYING BLAME
SQUARELY ON PUTIN CALLING IT A