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.
- Most recently, Russia said it was withdrawing some troops from the Ukraine border, CNN reports.
- However, Ukraine President Voldymyr Zelenskyy BBC News that “we don’t see any withdrawal yet” of Russian troops from the border.
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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.