The U.S. Senate Passed A Bill Imposing "hellish Sanctions" On Russia

The bill must now be approved by the House of Representatives.

On Friday, the U.S. Senate passed a bill by a vote of 86 to 11 regarding “hellish sanctions” against Russia, which was drafted by Senator Lindsey Graham, who passed away in July, according to Bloomberg.

According to the bill, which must now be approved by the House of Representatives before being sent to Donald Trump for his signature, the U.S. will be able to impose tariffs of up to 100% on the top five countries purchasing Russian oil and gas, where Russian energy resources account for more than 15% of total imports (India and China fall under this definition).

The same tariffs are imposed on countries that help Russia circumvent sanctions. Russian exports to the U.S. will be subject to a 500% tariff.

Under the law, personal sanctions are imposed on Vladimir Putin, members of the government, and the leadership of law enforcement agencies. The sanctions also apply to all Russian LNG projects, energy projects in the Arctic, the “shadow fleet”—vessels used for transshipment of oil, gas, and coal at sea—as well as individuals selling tankers to the Kremlin.

In addition, the Central Bank of the Russian Federation and systemically important Russian state-owned banks—Sberbank, VTB, and Gazprombank—are subject to these “severe sanctions.”

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