Senators are rallying to support a Russia sanctions bill, one of the late Sen. Lindsey Graham’s top priorities. The bill aims to impose steep tariffs on goods from countries that continue to buy Russian oil, gas, and other exports, in an effort to deprive Russia of funds for its war against Ukraine.
Bill Details
The revised bill more narrowly applies the tariffs to the world’s top five purchasers of Russian oil or natural gas, including China and India. It also reduces the tariffs from 500% to up to 100% and provides exceptions for countries that import less than 15% of their natural gas from Russia and are taking steps to reduce those imports.
The bill includes sanctions on Russian President Vladimir Putin, senior Russian political and military leaders, and Russian financial institutions and energy projects. It would also expand U.S. sanctions to target older, reflagged oil tankers that Russia uses to circumvent existing U.S. sanctions on Russian oil and energy revenues.
Support and Next Steps
More than two dozen senators support the bill, and aides say the list is growing. Senate Democratic leader Chuck Schumer has called on Senate Majority Leader John Thune to bring the sanctions bill to the floor immediately, saying it will pass overwhelmingly and help Ukraine.
Sen. Richard Blumenthal, D-Conn., who worked with Graham on the legislation, said he would be in favor of naming the bill after Graham, calling it part of his legacy.
Original reporting: KTBS 3 (Shreveport) — read the source article.
