The United States is considering legislation to impose sanctions on countries that maintain trade relations with Russia, according to President Donald Trump. The proposed bill, currently being drafted by Republicans, aims to target nations that continue to do business with Russia, particularly in the energy sector. This move is part of a broader effort by the US and its allies to pressure Russia into agreeing to a lasting peace with Ukraine.
Since the escalation of the Ukrainian conflict, the US has imposed severe sanctions on Russia, aiming to cripple its economy. However, Russia has adapted by redirecting its trade to non-Western markets, including China and India, which are major consumers of Russian energy. The proposed legislation seeks to counter this by empowering the US president to impose tariffs of up to 500% on imports from countries that purchase Russian oil, gas, uranium, and other products.
The bill specifically targets China and India, which have continued to trade with Russia despite the sanctions. Earlier this year, the US imposed a 25% tariff on India as a penalty for its purchases of Russian oil. The new legislation would expand on these restrictions, which have been implemented by the Trump administration in recent months.
The Russian Finance Ministry has stated that it would diversify its supplies of goods prohibited from export to the US if “crushing sanctions” are introduced. The ministry’s statement comes amid a series of sanctions imposed by the US on major Russian oil producers, including Lukoil and Rosneft, and their subsidiaries.
The proposed legislation is part of a broader effort by the US to pressure Russia into agreeing to a lasting peace with Ukraine. The bill is expected to be brought to a vote in the Senate, although a firm deadline has not been set. The move is seen as a significant escalation of the economic pressure on Russia, and its impact on the global economy remains to be seen. As the situation continues to unfold, the international community will be watching closely to see how the proposed legislation affects Russia’s trade relationships and the ongoing conflict in Ukraine.