Trump Backs Tariff Bill Targeting Russian Oil Buyers as Senate Eyes Vote Next Week
Updated
Updated · CBS New York · Jul 10
Trump Backs Tariff Bill Targeting Russian Oil Buyers as Senate Eyes Vote Next Week
3 articles · Updated · CBS New York · Jul 10
Summary
White House approval has been given to a bipartisan Senate bill that would impose heavy tariffs on countries still buying Russian oil and natural gas, according to CBS sources and the bill's sponsors.
Lindsey Graham and Richard Blumenthal said the measure is meant to force Vladimir Putin to negotiate by raising the cost for buyers that help finance Russia's war in Ukraine.
The bill's timing improved after oil prices fell following the cooling of the Iran conflict, though Blumenthal said he did not yet have a vote count and it remains unclear how quickly tariffs would take effect.
The Senate returns Monday, and John Thune has told sponsors he will move the bill once votes are secured; Graham told Volodymyr Zelenskyy on Friday that the White House supports it.
Blumenthal also said Zelenskyy's NATO summit meetings with Trump helped Ukraine secure a production license and U.S. approval to buy Ukrainian drones, underscoring broader momentum in Kyiv's ties with Washington.
As Russia's economy faces an 'endgame,' will new US sanctions be the final blow or just push Moscow closer to Beijing?
How did Ukraine transform from an aid recipient into a key drone manufacturer on US soil for the Pentagon?
The "Sanctioning Russia Act of 2025": Escalating U.S. Economic Pressure, Global Repercussions, and the Limits of Sanctions
Overview
The 'Sanctioning Russia Act of 2025' emerged as a significant legislative initiative in early 2026, marking a sharp escalation in the U.S. clampdown on Russia. Driven by a complex geopolitical landscape, the Act reflects a strategic recalibration of U.S. policy aimed at intensifying economic pressure on Moscow. The primary motivation behind these aggressive measures is to cut off Russia's financial lifelines, with the goal of weakening its capacity to sustain the war effort in Ukraine. This approach highlights the United States' commitment to using economic tools to influence the ongoing conflict.