Bipartisan Senators Push Sanctions and Tariffs Targeting Russia's Oil and Gas Revenue
Senators unveiled a bipartisan bill designed to impose sweeping sanctions on Russian leaders and place high tariffs on the nations that purchase Russian energy. The legislation aims to increase financial pressure on Russia and bring an end to its war in Ukraine. If passed, the bill would impose mandatory sanctions on figures including President Vladimir Putin, the Russian military, and state-owned enterprises. It would also impose tariffs of up to 100% on the top five countries buying Russian oil and gas, such as China and India. The measure seeks to cut off Russia’s revenue by targeting its energy sector. The bill, which was championed by the late Senator Lindsey Graham, has received support from the White House. Lawmakers are urging Congress to pass the measure quickly as a tribute to Graham. The administration noted that the legislation already includes secondary tariffs affecting certain entities. During a separate comment, the administration suggested that additional measures targeting Iran and Hezbollah could be added. While it is unclear when a vote will occur, proponents emphasized that the bill directly addresses the vast majority of Russia’s income used to fund the war.