The decision has been made in consultation with the European allies, but the United States is acting on its own.
- We ban all imports of Russian oil, gas and energy.
This means that Russian oil is no longer received in American ports and the American people give (President Vladimir) Putin another slap, says Biden.
- We will not be involved in subsidizing Putin's war.
"Defending freedom costs"
Russian oil accounted for 3 percent of US oil imports last year, but the decision will be felt in American wallets, says Biden.
- Defending freedom costs money.
Today's decision will be felt for us here at home, he says and points out that the price of petrol has risen sharply since the war began and that the price will rise further after the new announcement.
- I will do everything in my power to minimize Putin's price increases here at home, says Biden and warns American companies that he will not "tolerate" that they use the crisis to raise prices.
- We all have to pay for Russia's aggression.
This is not the time to step on it.
The British are phasing out oil
Canada has previously announced an embargo on Russian oil.
But the EU countries, with German Chancellor Olaf Scholz, have as recently as Monday made it clear that the effects would be too great for Europe's economy to cope with a stalemate in Russian energy.
According to a proposal presented on Tuesday, the European Commission wants the EU to be able to do without deliveries from Russia from the year 2030.
The UK will phase out all imports of Russian oil by the end of the year, Minister of Trade and Industry Kwasi Kwarteng states on Twitter.
"It will give the market and companies more than enough time to replace Russian imports, which account for 8 percent of British demand," he writes.
The British decision does not apply to natural gas, but Kwarteng states that the government "is looking at other ways to completely end this".