Proposed US Sanctions on Russia May Hit China, India and Uranium Trade

A new U. S. sanctions proposal aimed at increasing pressure on Russia could also affect major buyers of Russian oil and natural gas, including China and India. According to The Wall Street Journal, the legislation would give President Donald Trump the authority to impose tariffs of up to 100 percent on countries that continue supporting Russia's energy exports.

Sanctions Proposal Expands Pressure Beyond Russia

The bill reportedly targets not only Russia's energy exports but also seeks to halt trade in Russian uranium. It also includes additional sanctions on Russia's defense, energy and financial sectors, as well as vessels associated with the country's so-called shadow fleet.

Senator Richard Blumenthal, a Democrat involved in drafting the legislation, said lawmakers refined the proposal through extensive negotiations with the Office of the U.S. Trade Representative and officials at the White House.

"We refined the legislation during negotiations with the U.S. Trade Representative and our colleagues at the White House. It was a very difficult, meticulous and lengthy process. We do not want an overly broad or heavy-handed approach," Blumenthal said.

According to the senator, Congress could approve the new sanctions package before August.

Trump Keeps His Options Open as Business Groups Count Losses

According to The New York Times, President Donald Trump does not currently consider the sanctions bill a top legislative priority. However, the report says he could support the measure if it grants him exclusive authority to suspend or lift sanctions, allowing him to use the restrictions as leverage in future negotiations with Russia.

Speaking to reporters earlier, Trump said he had not yet decided whether to back the legislation.

"We're discussing it. We'll make a decision on that very soon," he said.

Meanwhile, Robert Agee, President and CEO of the American Chamber of Commerce in Russia, estimated that U. S. businesses have lost approximately $200 billion since February 2022 because of sanctions and the withdrawal of many American companies from the Russian market. He said numerous firms chose to leave Russia shortly after the conflict in Ukraine began, often making decisions driven by strong emotions.