US senators on Tuesday unveiled their sweeping bipartisan Russia sanctions bill, which they have urged Congress to quickly pass to honor of one its main sponsors, the late Sen. Lindsey Graham.

Sanctions Details

The legislation, which is meant to pressure Moscow and deprive it of revenue for its war against Ukraine, has been in the works for more than a year. Graham announced on Friday, just a day before his sudden death, that lawmakers reached an agreement with the White House to move forward on the bill.

The more-than-60-page bill, if passed, would impose mandatory sanctions on Russian political and military leaders, including President Vladimir Putin, as well as oligarchs, state-owned enterprises, and foreign companies that support Russia’s defense industrial base.

It would also impose sanctions on Russia’s shadow fleet, its energy projects, and its financial institutions. In addition, it would impose a 100% tariff on the top five countries, including China and India, that purchase Russian crude oil and natural gas.

Support and Next Steps

Bipartisan senators have expressed hope that the bill could finally pass, calling it a “fitting tribute” to Graham. The bill has more than two dozen co-sponsors and growing as of Tuesday early afternoon.

President Donald Trump on Tuesday said the bill had “a good chance,” but suggested that additional measures targeting Iran and Hezbollah could be added.

Original reporting: KRDO (Colorado Springs metro) — read the source article.