President of the United States, Joe Biden, has accused Russia’s Vladimir Putin for the global rise in gas and food prices. The war in Ukraine is already in its 38th day, following Moscow’s surprise invasion on February 24. “The invasion of Ukraine by Putin has pushed up gas and food costs around the world. To help with this, I authorised the release of 1 million barrels per day from our Strategic Petroleum Reserve for the next six months yesterday “On Saturday, the US president posted a message on Twitter.
As he announced the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve to combat rising gas costs, Biden said it was unclear how much gasoline prices may fall as a result of his decision, but that it could be “anything from 10 cents to 35 cents a gallon.” “The simple truth is that we need more oil supply right now if we want lower gas prices. This is a moment of global significance and peril, as well as agony at the gas pump for American households “In a White House statement, he was quoted as saying.
According to a top US Treasury official, Russia is being driven into recession and is reverting to a closed economy as a result of devastating sanctions imposed by the West.
