Trump administration greenlights legislation to exact a heavy price on buyers of Russian oil and gas
The Trump administration will back legislation to sanction Russian oil and gas exports that have been fueling Vladimir Putin’s long and bloody war against Ukraine, a bipartisan group of senators announced Friday. The bill, introduced by Sen.Lindsey Graham (R-SC) last year, has already garnered the support of more than 80 senators but has languished on Capitol Hill as President Trump has repeatedly sought to negotiate an end to the four-year-long war. “We are proud to announce that we have reached an agreement with the Trump Administration to move our updated Russia sanctions legislation forward,” Sens.
Jeanne Shaheen (D-N.H.), Richard Blumenthal (D-Conn.), Roger Wicker (R-Miss.) and Graham said in a joint statement. “We are very pleased with this significant progress and expect to roll out the legislation very soon,” the senators added.“As Russia intensifies its slaughter of civilians, it is imperative that the legislative and executive branches work together to create tools to exact a heavy price on those who buy Russian oil and natural gas, fueling the Putin war machine.”The Senate could begin work on the bill as soon as Monday, when it returns from its post 4th of July recess.As originally drafted, the Sanctioning Russia Act would slap a 500% tariff on nations that import energy from Russia – a critical source of military funding for the Kremlin. It’s unclear what changes the lawmakers and the Trump administration agreed to make to move forward with the legislation. Graham, who met with Ukrainian President Volodymyr Zelensky in Kyiv earlier Friday, said he’s “never been more optimistic” about the conflict drawing to an end. “I’ve never been more optimistic than I am today that we have the formula to end this war; help Ukraine be more lethal; let those supporting Russia to know it’s going to be a price to be paid if you keep doing it; and to try to find an off-ramp, not to humiliate Putin, but to end this war so that Ukraine w...