A bipartisan bill advancing in Congress, originally championed by the late Sen. Lindsey Graham, would grant President Trump authority to impose tariffs of up to 100% on the five largest buyers of Russian oil and gas, including China and India, according to the Wall Street Journal. The measure aims to increase economic pressure on Moscow over the war in Ukraine and also expands sanctions on Russia's security, energy, and financial sectors.
The Wall Street Journal reports that a bipartisan bill advancing in the U.S. Congress would give President Donald Trump authority to impose tariffs of up to 100% on the five largest buyers of Russian oil and natural gas. The list includes China and India, two of the world's largest energy importers. The legislation was originally championed by the late Senator Lindsey Graham, who died earlier this month, and is being advanced as a tribute to his legacy.
The bill also expands existing sanctions on Russia's defense, energy, and financial sectors, as well as targeting the country's 'shadow fleet' of oil tankers used to evade restrictions. The measure is designed to tighten economic pressure on Moscow over its ongoing war in Ukraine, while leaving the decision to impose tariffs — and the exact rate — in the president's hands.
As The Zioneer has reported, President Trump had indicated support for the bill, and the White House has been working to advance it. The development comes amid a broader push by the U.S. and its allies to increase sanctions on Russia.
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Source and signal
- Internal intake