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U.S. President Donald Trump signed a sanctions bill on Friday, formally adopting measures aimed at curbing Russia’s oil exports and restricting the financial activities of Russian officials.
The legislation, drafted by former Republican Senator Lindsey Graham, allows the president to impose a 100 % tariff on imports of Russian crude oil and natural gas by the five largest foreign buyers.
In addition to the tariff, the bill sanctions Russian President Vladimir Putin, his government officials, oligarchs, banks, and other financial institutions. It also extends sanctions on Iran’s energy and weapons sectors.
Congressional approval came after the House of Representatives passed the bill earlier in the week and the Senate approved it in August, despite concerns from some Democrats about expanding the president’s customs authority.
The sanctions are expected to have the greatest impact on China and India, the largest purchasers of Russian crude oil. The measure is part of a broader U.S. strategy to reduce Russia’s revenue streams that finance its war in Ukraine.
Former Senator Graham, who died in July 2023, had advocated for the sanctions shortly before his death. He had recently returned from a trip to Ukraine when he passed away in Washington, D.C.
Trump has indicated that he will meet with Chinese President Xi Jinping at the White House on September 24, a meeting that could discuss the sanctions and other geopolitical issues.
During a recent interview, Trump expressed frustration with the ongoing conflict, stating, “The obstacle is between two people who hate
Article source: www.actualno.com | Image credit: www.actualno.com
