BIDEN EXPECTED TO ANNOUNCE U.S BAN ON RUSSIAN OIL IMPORT

By Chandrayee Roy Choudhury, Canada: U.S. President Joe Biden was expected to announce a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, sources familiar with the matter said.
The White House said Biden was scheduled to announce actions at 10:45 a.m. ET on Tuesday against Russia over Ukraine, but that announcement has been delayed, without explanation.
Oil prices jumped on the anticipated news, with Benchmark Brent crude for May climbing by 5.4 per cent to $129.91 US a barrel prior to the announcement.
Biden has been working with allies in Europe, who are far more dependent on Russian oil, to isolate Russia's energy-heavy economy and President Vladimir Putin. Two people familiar with the matter told Reuters on Monday the United States may move ahead with a ban on Russian oil imports without the participation of allies in Europe.