President Joe Biden announced one million barrels of oil will be released per day for the next six months to stabilize rising gas prices in the U.S. “Our prices are rising because of Putin’s action.” Read more:
President Joe Biden will announce plans to lower U.S. gas prices Thursday, as prices have skyrocketed amid Russia's invasion of Ukraine.
Biden will announce a two-part plan Thursday afternoon to expand oil supply by increasing domestic production and reducing American dependence on oil by bolstering the clean energy economy. Biden will also announce an unprecedented release of oil reserves that will put an average of one million additional barrels on the market daily for the next six months. The White House said the release will serve as"bridge" until domestic production ramps up.
"Having previously lived in the U.K., Brilev will no longer be able to access any of his U.K. assets or continue business dealings," the U.K. government said in a statement.
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