Economy

‘Game changer’: Bipartisan senators gunning for Russia sanctions ready to give Trump runway

A bipartisan duo bent on imposing strict sanctions against Russia are giving President Donald Trump some runway after his latest, hardened stance against Moscow.

Senators Lindsey Graham, R-S.C., and Richard Blumenthal, D-Conn., have pressed for stringent sanctions against Russia and its energy trade partners, and they have been working to refine their bill to meet requirements from the White House that give Trump more flexibility.

The bill had been sidelined by congressional Republicans’ push to pass the president’s ‘big, beautiful bill’ and had been eyed for a vote possibly by the end of the month.

But Trump’s announcement that he would levy 100% tariffs against Moscow unless Russian President Vladimir Putin agreed to end the war with Ukraine has likely again stalled that plan, and the bipartisan pair isn’t mad about it.

‘It sounds like right now the president is going to attempt to do some of this on his own,’ Senate Majority Leader John Thune, R-S.D., told reporters. ‘If at some point the president concludes that it makes sense and adds value and leverage that he needs in those negotiations to move the bill, then we’ll do it. We’ll be ready to go.’

The president’s warning came after he agreed to sell weapons to NATO, which, in turn, would be sent to Ukraine to resupply their dwindling stocks.

‘We’re pleased that the president sort of buys into that way of doing business. We’ll continue to work with the White House to see if we can provide him a tool that Congress has been working on,’ Graham said.  

Their bill would slap up to 500% tariffs on countries buying energy products from Moscow in a bid to kneecap Russia’s war machine by imposing duties on oil, gas, uranium and other exports, largely purchased by China and India, which account for nearly three-quarters of Moscow’s energy business.

But that doesn’t mean that work on the bill has ceased. Graham noted that having Congress’ blessing ‘is good for the president’ and could help him legally and politically.

‘But between the weapons flowing and sanctions through tariffs on the table, I think we can say today was a game changer that we’ve been waiting on and hoping for, and on day 51 you want to know what happens,’ Graham said. ‘Call the Ayatollah.’

Blumenthal lauded Trump’s shift and gave him credit ‘for seeing through the mocking and flouting by Vladimir Putin.’ He argued that the bill, which has dozens of co-sponsors in the Senate and backing by House Speaker Mike Johnson, R-La., had already made an impact and noted that Trump’s move was like a ‘hammer.’  

‘Our bill is a sledgehammer,’ Blumenthal said. 

This post appeared first on FOX NEWS

You May Also Like

Editor's Pick

Premature babies at Gaza’s largest hospital are being wrapped in foil and placed next to hot water in a desperate bid to keep them...

Stock

Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

Latest News

A pair of Russian journalists have been detained on “extremism” charges and face accusations of working for a group founded by the late Russian...

Latest News

A pair of Russian journalists have been detained on “extremism” charges and face accusations of working for a group founded by the late Russian...

Disclaimer: findandfunds.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 findandfunds.com

Exit mobile version