Madam Speaker, Madam Vice President, our First Lady and Second Gentleman. Members of Congress and the Cabinet. Justices of the Supreme Court. My fellow Americans.
Oil prices soared and investors shifted more money into ultra-safe U.S. government bonds as Russia stepped up its war on Ukraine. The price of oil surged back above $100 a barrel after Russia, a major energy producer, faced further isolation and economic damage because of its invasion of Ukraine.
Russia’s president criticizes the West as the country faces a new massive wave of sanctions, while Ukraine's president asks to be admitted into the European Union.
The Biden administration has sent defense officials to Taiwan in support of the nation over concerns that Russia’s invasion of Ukraine could spark China’s invasion of the self-governing island.