Sanctions against Russia: Graham-Blumenthal bill is ready for adoption by US Senate
A bipartisan bill to tighten sanctions against Russia, introduced by Lindsey Graham and Richard Blumenthal, has secured the support of 61 senators. However, the date for its consideration in the Senate is not yet known.
According to Censor.NET, Axios has reported on this.
According to the publication, the bill has at least 61 co-sponsors, of whom 39 are Republicans and 22 are Democrats. Such support suggests it is likely to be passed by the Senate.
However, the timeline for consideration remains a key obstacle at present. As an Axios source notes, it has not yet been determined exactly when the bill will be brought before the Senate for debate.
Following potential approval in the upper house, the bill must also be considered and receive the backing of the US House of Representatives.
The Graham-Blumenthal Bill: what is known?
The Graham-Blumenthal Bill (Sanctioning Russia Act) is a bipartisan initiative by US Senators Lindsey Graham (Republican) and Richard Blumenthal (Democrat), aimed at significantly increasing economic pressure on Russia and its trading partners. Following Graham’s death, his co-authors are continuing to push the bill forward.
Key provisions of the bill:
- the imposition of sanctions against the Russian leadership, state-owned banks, the energy sector and the so-called ‘shadow fleet’;
- granting the US President the authority to impose secondary tariffs of up to 100 per cent on countries that continue to purchase significant volumes of Russian oil, gas and other energy resources. The initial version proposed 500 per cent, but following negotiations, the bill was scaled back to a maximum of 100 per cent;
- provision is made for the President to temporarily defer the application of certain sanctions or tariffs if this is in the national interest of the US.
