U.S. Senators Graham and Blumenthal Seek 500% Tariffs to Choke Russian Energy Profits Ahead of G7
Republican Senator Lindsey Graham and Democratic Senator Richard Blumenthal are spearheading a bipartisan push to enact a powerful new sanctions package against Russia ahead of the Group of Seven (G7) summit, scheduled for June 15-17 in Alberta, Canada.
The Gaze reports on this with reference to Bloomberg.
The proposed legislation would impose a 500% tariff on imports from countries that continue to purchase Russian oil, gas, or uranium – a move squarely aimed at China and India. According to the senators, the measure is designed to curtail the Kremlin’s ability to finance its war against Ukraine by making it economically punitive for third countries to maintain energy ties with Moscow.
The sanctions bill has already garnered the support of at least 82 U.S. Senators, indicating a rare bipartisan consensus in a deeply divided Congress.
“We believe it’s time to increase the cost of doing business with Putin,” the senators said in a joint statement issued after high-level meetings in Paris. “By the G7 summit, we aim to see these sanctions enacted in coordination with our European allies, to send a clear, united message to China and others who are indirectly funding Russian aggression.”
In their conversations with French President Emmanuel Macron, the lawmakers also welcomed his openness to lowering the G7-enforced price cap on Russian oil, which could deliver an additional financial blow to Moscow.
While U.S. President Donald Trump has recently advocated for a ceasefire between Russia and Ukraine, it remains uncertain whether he would endorse such aggressive economic measures against the Kremlin. Still, Graham appears intent on pushing forward with the legislation, regardless of intra-party divisions.
As The Gaze reported earlier, on May 30, Graham and Blumenthal recently visited Kyiv, where they reiterated U.S. commitment to supporting Ukraine and warned of a possible renewed Russian military offensive later this summer or fall.