President Joe Biden announced Tuesday that the United States is banning Russian oil imports, stopping about 500,000 barrels per day of new crude shipments from entering American seaports. “Today, I am announcing the United States is targeting the main artery of Russia’s economy. We’re banning all imports of Russian oil and gas and energy,” Biden told reporters at the White House. “That means Russian oil will no longer be acceptable at U.S. ports and the American people will deal another powerful blow to Putin’s war machine.” “This is a step we’re taking to inflict further pain on Putin,” Biden added. The plan consists of prohibiting new purchases of Russian crude, liquefied natural gas, coal, and other petroleum products. It would also wind down deliveries of existing exports. The latest initiative will restrict new U.S. investment and prevent Americans from engaging in foreign investments where funds flow into Moscow’s energy sector. …