More than 60 U.S. senators: The bill on “hellish sanctions” against Russia has received strong support
17 July 20:46
A package of sanctions against Russia, championed by Republican Lindsey Graham, has been backed by more than 60 senators. This number is sufficient to overcome a procedural filibuster in the Senate, according to "Komersant Ukrainian", citing Axios.
The bill would allow the U.S. president to impose sanctions against Russian President Vladimir Putin, high-ranking Russian political and military leaders, businesspeople, and state-owned enterprises. Foreign companies that support the Russian defense-industrial complex will also be subject to sanctions.
A separate section of the bill addresses import tariffs for countries that purchase Russian oil and gas. The bill originally called for a 500% tariff. The revised version replaces this with a duty of up to 100% for the five largest buyers of Russian oil and gas, including China and India. The same duty will apply to countries that help circumvent the sanctions.
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The restrictions are also proposed to be extended to financial institutions—the Bank of Russia, Sberbank, and Gazprombank. Major energy projects—Yamal LNG, “Arctic LNG-1,” “Arctic LNG-2,” and “Arctic LNG-3”—as well as their owners and top managers.
The bill provides for sanctions against Russia’s “shadow fleet,” as well as against foreign individuals and vessels that help circumvent the restrictions.
The bill also prohibits U.S. citizens and companies from purchasing Russian sovereign debt; new investments in Russia and its energy sector will be banned, as will money transfers to or for the benefit of the Russian government. The bill also prohibits the export, re-export, or transfer of U.S. energy goods and technologies to Russia or within the country.
Donald Trump has not yet expressed full support for the bill. But he has made it clear that he is prepared to sign it in memory of Graham.
“We’re seriously considering it—it’s in honor of Lindsey. He wanted this more than anything in the world,” Trump said.
According to Axios, Graham believed he had secured the administration’s support. He informed his fellow senators of this just a few hours before his sudden death.
Potential sanctions are putting pressure on the Russian stock market. On July 16, the Moscow Exchange Index fell 4.24% to 2,022.27 points, marking the stock market’s sharpest single-day decline since September 26, 2022.
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