Why Did Biden Back the Ban?

Why did US President Joe Biden reverse himself and decide to ban Russian oil?

Azimuth advisor Aseem Prakash and co-author Nives Dolsak write in Forbes.com that the ban is likely to cause serious pain for the Democrats in the upcoming midterm elections. Gas prices will rise even further, and voters will punish the Democrats.

Biden nevertheless imposed the ban, Prakash writes, in part because the Democrats feel compelled to look tough after the country's disastrous Afghan withdrawal. But there are other reasons.

To read the full Forbes.com article, click here.