New US Sanctions to Target Russia and Supporting Nations

On 1st April a bipartisan bill was introduced in the US Senate by Republican Senator Lindsey Graham and Democrat Senator Richard Blumenthal proposing further sanctions on Russia. The intention would appear to be to impose sanctions and other measures (including tariffs) if Russia refuses to negotiate a peace agreement with Ukraine, violates any such agreement, or initiates another military invasion of Ukraine after a peace agreement is reached.

The press release indicates that the proposed sanctions would:

• be both primary and secondary;
• be imposed if Russia refuses to “engage in good faith negotiations”;
• include a 500% tariff on imported goods from countries that buy Russian oil/gas/uranium/other products.