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The United States is preparing to significantly expand sanctions against Russia with a new bill targeting a broad range of sectors, from finance to energy, according to Radio Free Europe/Radio Liberty.
Washington correspondent Alex Raufoglu reported that the revised legislation is expected to be introduced on Monday, July 13.
Unlike an earlier version, which would have left much of the response to Russia's rejection of peace efforts at President Donald Trump's discretion, the updated bill would make many of the sanctions take effect automatically.
Under the new proposal, a substantial portion of the restrictions would be imposed within 30 days of the legislation becoming law.
According to RFE/RL, the expanded sanctions package would go beyond Russian officials and banks to target:
- investments in Russia;
- Russian sovereign debt;
- shipping and maritime activities;
- energy exports;
- uranium imports;
- financial services;
- and other key sectors of the Russian economy.
Background
Speaking in Kyiv on July 10, Senator Lindsey Graham, one of the bill's authors, said the legislation is intended to give President Trump stronger economic tools to pressure Moscow and help bring the war in Ukraine to an end.
Among its provisions, the bill would authorize tariffs and strict sanctions against countries that continue purchasing Russian oil and gas.
It would also target foreign companies and governments that help the Kremlin circumvent existing sanctions.
The bipartisan initiative has been developed for nearly two years by Senators Lindsey Graham and Richard Blumenthal.
