500% tariff: U.S. senators introduce rough sanction bill on Russia

It’ll be imposed if Russia refuses to engage in good faith negotiations
US Senator Lindsey Graham
US Senator Lindsey Graham in Kyiv on 18 March 2024. Credit: Ukraine’s Presidential Office
500% tariff: U.S. senators introduce rough sanction bill on Russia

US Senators Richard Blumenthal (D-Connecticut) and Lindsey Graham (R-South Carolina) unveiled a bipartisan bill to introduce primary and secondary sanctions against Russia and actors supporting Russia’s aggression in Ukraine.

These sanctions would be imposed if Russia “refuses to engage in good faith negotiations for a lasting peace with Ukraine or initiates another effort, including military invasion, that undermines the sovereignty of Ukraine after peace is negotiated.”

The legislation imposes a 500 percent tariff on imported goods from countries that buy Russian oil, gas, uranium and other products.

“We are pleased to announce that we have received overwhelming bipartisan support for our primary and secondary sanctions legislation against Russia. The sanctions against Russia require tariffs on countries who purchase Russian oil, gas, uranium and other products. They are hard hitting for a reason,” the announcement reads. “The dominating view in the United States Senate is that Russia is the aggressor, and that this horrific war and Putin’s aggression must end now and be deterred in the future. We share President Trump’s frustration with Russia when it comes to obtaining a ceasefire, and support President Trump’s desire to achieve a lasting, just and honorable peace.”

The authors refer to the infamous 1994 Budapest Memorandum that resulted in Ukraine giving up approximately 1,700 nuclear weapons with a promise from the US, Russia and United Kingdom that Ukraine’s sovereignty would be honored in the future as well as the failed Minsk Agreements.

“It is our hope that in 2025, President Trump and his team will achieve what has eluded the world in the past: ending Russian aggression against Ukraine permanently and ensuring the survivability of a free and democratic Ukraine,” they write, adding “overwhelming bipartisan, bicameral support if presented to the Senate and House for a vote.”

Some of the co-sponsors include US Senators Dan Sullivan (R-Alaska), Brian Schatz (D-Hawaii), Thom Tillis (R-North Carolina), Peter Welch (D-Vermont), Markwayne Mullin (R-Oklahoma), Chris Coons (D-Delaware), Tim Sheehy (R-Montana), Kirsten Gillibrand (D-New York), Lisa Murkowski (R-Alaska), Mark Kelly (D-Arizona), Jon Husted (R-Ohio), Elissa Slotkin (D-Michigan), and more.

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