"Graham's Sanctioning Russia Act, drafted with Democrat Richard Blumenthal, would give Trump the authority to impose a tariff of up to 500 percent on imports from countries doing business with Russia's energy sector. This bill will allow President Trump to punish those countries who buy cheap Russian oil fueling Putin's war machine, Graham said in a statement, referring to Russian President Vladimir Putin."
"China and Russia continue to be major buyers of Russia's oil despite US and European sanctions imposed on the Russian energy sector in response to Moscow's war in Ukraine. China bought nearly half of Russia's crude oil exports in November, while India took about 38 percent of exports, according to an analysis by the Centre for Research on Energy and Clean Air."
President Trump has backed a bipartisan bill that would allow imposition of sanctions or tariffs on countries purchasing Russian energy. The Sanctioning Russia Act would give the president authority to impose tariffs up to 500 percent on imports from countries engaged with Russia's energy sector. The measure targets buyers of discounted Russian oil to cut financing for Russia's war in Ukraine and to pressure nations such as China, India and Brazil to stop purchases. China bought nearly half of Russia's crude exports in November, while India took about 38 percent. The push coincides with Washington-brokered negotiations between Moscow and Kyiv.
Read at www.aljazeera.com
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