100 percent tariff on buyers of Russian oil: New sanctions to be voted on in the US
The US House of Representatives will vote next week on a bill that provides for new, harsh sanctions against Russia. If the document is adopted, US President Donald Trump may have the authority to introduce a 100 percent tariff on major buyers of Russian oil and gas.
100 percent tariff on buyers of Russian oil: New sanctions to be voted on in the US
According to Bloomberg, citing a source, a bill described as harsh sanctions against Russia will be put to a vote next week in the lower house of the US Congress — the House of Representatives.
The author of the bill is Senator Lindsey Graham from South Carolina, who passed away in July of this year. In early August, this initiative was also supported in the US Senate.
According to Bloomberg's source, the sanctions package will be considered after the Republicans return from the party convention. A simple majority vote is sufficient to pass the bill in the House of Representatives.
If the document is approved, President Donald Trump will have the opportunity to introduce 100 percent tariffs on the five largest buyers of Russian oil and gas, as well as on five other countries helping Moscow bypass energy sanctions.
It is precisely the expansion of presidential powers that previously caused objections from Democrats in the House of Representatives. They expressed concern that the bill could give Republican President Donald Trump excessively broad authority regarding tariff policy.
According to Reuters, the House Rules Committee has scheduled the consideration of the sanctions bill for the afternoon of Monday, September 14. Republicans hold the majority in the committee.
If the committee approves the document, the bill will be put to a vote by the full House of Representatives as early as this week. If it gathers enough votes there as well, the document will be sent to Donald Trump for signature. The US President has previously expressed his support for this initiative.
According to a Reuters source, the US President's administration also noted that the new sanctions would provide Trump with additional leverage ahead of Chinese leader Xi Jinping's planned visit to the US. Xi Jinping's visit to the US is scheduled for September 24.
The Senate began discussing this draft of sanctions against Russia on July 28 — the day of Lindsey Graham's funeral. Graham had spent more than a year trying to secure support for this initiative in Congress.