The US is increasing pressure on Russia: Trump signed a law providing for tariffs of up to 100 percent
The US is increasing pressure on Russia: Trump signed a law providing for tariffs of up to 100 percent
US President Donald Trump signed a law providing for a comprehensive package of sanctions against Russia over the war in Ukraine.
The law signed on Friday provides for sanctions against Russian President Vladimir Putin, senior officials and oligarchs, as well as Russian banks and financial institutions.
Moscow's energy and defense sectors, as well as the "shadow fleet" of tankers used to transport Russian oil while circumventing Western sanctions, will also be subject to restrictions.
According to one of the key provisions of the law, Trump will have the authority to impose tariffs of up to 100 percent on the five largest buyers of Russian oil and gas. This measure could have a significant impact on China and India, the largest importers of Russian crude oil.
The law also expands sanctions against Iran's energy and weapons sectors.
The document was approved in the Senate last month and in the House of Representatives on Wednesday. In the House, 58 Democrats supported the bill.
Supporters of the law emphasize that the sanctions could limit the Kremlin's ability to finance the war and push Russia toward negotiations. Ukrainian President Volodymyr Zelenskyy called the document an "extremely powerful tool."
However, Democratic Minority Leader in the House Hakeem Jeffries opposed the law. He stated that the new tariff authorities could increase costs for American families. He also noted that there are "many loopholes" in the provisions related to sanctions.
India, despite the threat of new tariffs, has declared its firm commitment to ensuring energy security for its 1.4 billion people.
Trump's signing of the law occurred approximately one week before Chinese President Xi Jinping's visit to the White House.
