Trump Signed A Law Imposing "hellish Sanctions" On Russia

Russian exports to the United States will be subject to a 500% tariff.

U.S. President Donald Trump signed a bill on "hellish sanctions" against Russia, reported the White House.

The bill, which had been championed for several years by Senator Lindsey Graham—who passed away in July—was passed in August by an overwhelming majority in the Senate—86 to 11. And on September 25, by a vote of 262 to 159, despite protests from some Democrats, it was was passed by the House of Representatives.

According to the bill, the U.S. president 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 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.

According to 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,” and vessels used for the 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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