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What President Biden told Americans to expect from the Ukraine crisis

Americans could feel the Ukraine crisis at the gas pump

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President Joe Biden speaks about Ukraine,

President Joe Biden speaks about Ukraine in the East Room of the White House on Tuesday, Feb. 15, 2022, in Washington. Biden said Americans will feel the Ukraine crisis in their lives.

Alex Brandon, Associated Press

President Joe Biden addressed the American people Tuesday about the potential Russian invasion of Ukraine, suggesting all Americans will feel the Ukrainian crisis on some level.

What he said: “If we do not stand for freedom where it is at risk today, we’ll surely pay a steeper price tomorrow,” Biden said, per The Guardian.

  • “We should give diplomacy every chance to succeed,” Biden said. “And I believe there are real ways to address our respective security concerns.”

State of play: There have been fears of a Russian invasion of Ukraine for months now.

The bigger picture: Gas prices have surged in recent days because of the possible Russian attack on Ukraine, according to CBS News.

  • Fears over the attacks have raised global oil prices, which has had a direct impact on the pumps in the U.S.
  • “Recently we’ve seen crude oil prices move on the basis of geopolitics. A lot of what-if scenarios: What if Russia does invade Ukraine and we have sanctions?” Tom Kloza, global head of energy analysis for the Oil Price Information Service, told CBS MoneyWatch.