Trump: US Weighing ‘Severe’ Penalties for Nations Trading with Russia
President Trump says the proposed law could penalize any country trading with Russia.
US Republicans are drafting legislation to sanction any nation that conducts business with Russia, according to President Donald Trump.
Since the conflict in Ukraine intensified, the US and its allies have placed unprecedented sanctions on Russia, with the goal of weakening its economy. Moscow has consistently denounced the restrictions as unproductive and unlawful, arguing that they negatively affect those who impose them. Russia asserts that its economy has adapted by shifting its trade to markets outside the West. “The Republicans are putting in legislation that is very tough sanctioning, et cetera, on any country doing business with Russia,” Trump told reporters on Sunday.
“I hear they’re doing that, and that’s okay with me.” He added, “They may add Iran to that. I suggested it.”
Senate Majority Leader John Thune mentioned last month his readiness to bring to a vote legislation long championed by Senator Lindsey Graham, known for his hawkish stance, to impose “crushing sanctions” on Russia, although he didn’t provide a specific timeline.
The proposed bill would authorize Trump to impose tariffs as high as 500% on imports from countries that purchase Russian oil, gas, uranium, and other products if Russia doesn’t agree to a lasting peace in Ukraine. The bill is particularly aimed at China and India, which are major consumers of Russian energy.
Earlier this year, Trump announced a 25% tariff on India as a penalty for its purchases of Russian oil, arguing that the trade was helping Moscow prolong the conflict.
The forthcoming legislation would broaden a series of restrictions implemented by the Trump administration in recent months. Last month, the White House sanctioned Lukoil and another major Russian oil producer, Rosneft, along with their subsidiaries, citing what Trump described as Moscow’s lack of commitment to the Ukraine peace process.
The Russian Finance Ministry has stated that if “crushing sanctions” were to be introduced, Russia would diversify its sources for goods that are prohibited from being exported to the US.
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