US Bill Targets Russia's War Effort with Sanctions and Tariffs

Significantly, the bill received support from both Republicans and Democrats. It also targets countries that continue to finance Russia's war effort through oil and gas purchases. It also targets countries that continue to finance Russia's war effort. It would impose mandatory sanctions on top government officials, including Russian President Vladimir Putin. It would sanction Russian financial institutions and Russian energy projects. It would also target Russian oligarchs, state enterprises, and foreign companies that support Russia's defense industry. It would impose tariffs of up to 100 percent on the top five countries that buy crude oil and natural gas from Russia. These countries include China and India. The level of the tariffs would be set by US Trade Representative Jamieson Greer. The bill also includes a waiver for the president, giving the White House the power to waive sanctions or restrictions. The waiver would certify to Congress that the president has a national interest in allowing countries that use Russian natural gas to export less than 15 percent of their total natural gas exports.