US House of Representatives slows down sanctions against Russia: fears of rising oil prices, - media
A U.S. bill to tighten sanctions against Russia, which was previously approved by the Senate, may be postponed until the November midterm elections.
According to Censor.NET, this is reported in an article by Bloomberg.
The House of Representatives is concerned about rising prices
The bill faced opposition in the U.S. House of Representatives. One of the reasons was concern over a possible rise in oil and gasoline prices.
House Speaker Mike Johnson said he supports sanctions against Russia, but the bill needs further refinement.
"We all believe in imposing sanctions against Russia, but the right formula is needed for the bill to pass," Johnson said.
According to Bloomberg, the document could grant U.S. President Donald Trump the authority to impose 100% tariffs on the five largest buyers of Russian oil and natural gas. It also refers to five countries that are helping Russia circumvent energy sanctions.
China, India, and Turkey are cited as among the largest buyers of Russian oil.
Johnson doubts that the House of Representatives will vote on the bill before the midterm elections on November 3. According to him, Congress will have only a few working days in Washington over the next two months.
Brian Mast, chairman of the House Foreign Affairs Committee, noted that the bill is also being evaluated in light of its potential impact on gasoline prices. If India and other buyers of Russian oil are forced to turn to other markets, this could lead to higher fuel prices.
Democrats fear an expansion of Trump's powers
Representatives of the Democratic Party have other concerns. They do not rule out the possibility that Trump might use the bill as a legal basis for imposing widespread tariffs.
Representative Gregory Mix stated that he could not support a bill that would grant the president additional powers in the area of customs policy.
The U.S. Senate approved the bill by a vote of 86 to 11.
The House of Representatives was expected to consider the bill in September. Democratic Senator Richard Blumenthal had previously expressed hope that the bill to strengthen sanctions against Russia and Iran would be approved by the House of Representatives this month.
What led up to it
As a reminder, on August 7, the U.S. Senate approved a bill introduced by the late Senator Lindsey Graham to strengthen sanctions against Russia and Iran.
The document calls for the imposition of 100 percent secondary tariffs on countries that continue to purchase Russian oil and gas. This primarily refers to China and India.
The bill also provides for sanctions against Russia's "shadow fleet" of tankers, Russian financial institutions—including the Central Bank of the Russian Federation—as well as major state-owned energy projects, including "Yamal LNG," "Arctic LNG-1," "Arctic LNG-2," and "Arctic LNG-3."
