1 Biden Bans Russian Oil As Congress Close To Agreeing On Ukraine Aid
It’s official, President Biden is imposing a U.S. ban on Russian oil imports. Speaking from the White House, Biden called it “another powerful blow” to Russia during its ongoing invasion of Ukraine. He noted that Russian oil makes up only a small part of the oil available to the U.S. – it’s about 3% for those who don’t know – but Biden is warning the move will likely cause U.S. gas prices to rise even more. He also noted that oil companies should not exploit the situation by price gouging and profiteering. Biden promoted his administration's push to become energy independent through clean energy, including electric vehicles (even though we have been for a few years now). He said the nation should be racing toward that objective. Biden said sweeping global sanctions are having a devastating impact on Russia's economy, causing it to "crater."
2 Chinese Hackers Breach Six U.S. State Agencies
Investigators at cybersecurity firm Mandian say a Chinese government-backed hacking group is responsible for breaches at local government agencies in at least six states. Mandiant says the breaches have all taken place in the last ten months in efforts to target health, transportation, labor and higher education, amongst other things. The group, which Mandiant refers to as APT41, targeted state governments in the US between May 2021 and February 2022. Hackers in at least two of the states broke into networks thanks to a critical software flaw revealed in December, as the Biden administration was attempting to respond to the discovery. Motives of the Hackers aren't known, but Mandiant says that the victims are "consistent with an espionage operation."
3 Four More Companies Suspend Business In Russia
More companies are suspending sales in Russia after the country invaded Ukraine. Svitlana Zalishchuk is a foreign policy advisor to the Deputy Prime Minister of Ukraine and calls this welcome news. The latest to close doors – at least temporarily – are Coca-Cola, Pepsi, McDonald’s and Starbucks. Pepsi has been operating there for more than 60 years. The CEO says they "must stay true to the humanitarian aspect" of their business. Coke says the people of Ukraine are "enduring unconscionable effects." “Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” Coke says in a statement. “We will continue to monitor and assess the situation as circumstances evolve.” Starbucks is also halting all business activity (closing stores and stopping product sales) and McDonald's confirmed it will close all restaurants in Russia. That amounts to 850 locations with Starbucks shuttering 130 stores.