Trump signs bill authorizing broad new sanctions to squeeze Russia

Share
Share

US President Donald Trump signed a bill Friday authorizing new sanctions designed to pressure Russia over its war in Ukraine, shortly after it received congressional approval this week.

The legislation takes aim at Russia’s energy and defense sectors, alongside President Vladimir Putin and other senior officials.

It also targets Moscow’s so-called shadow fleet of tankers used to evade Western sanctions, and allows Trump the authority to impose tariffs of up to 100 percent on major buyers of Russian oil and gas.

This could potentially cover China and India, and furthers efforts to cut off revenue financing Moscow’s war.

The Republican-led House of Representatives passed the package by a 262-159 vote on Wednesday.

The bill would also target companies and foreign actors supporting Russia’s military, and extend sanctions involving Iran.

But the broad powers to impose tariffs sparked an unusual split among Democrats, who largely support Ukraine but have resisted handing Trump wider authority over trade.

Ukrainian President Volodymyr Zelensky earlier said the legislation’s passage was symbolic and thanked US lawmakers.

India said on Thursday it would continue buying oil “through diversified sourcing.”

Trump’s signing of the bill also comes a week before he is due to meet with Chinese President Xi Jinping in Washington.

Share

More News

Bank of Japan hikes key interest rate to 1.25 percent

The Bank of Japan raised interest rates to a more than 30-year high of 1.25 percent on Friday and said it would lift...

EconomyEditor's Pick

Bank of Japan hikes key interest rate to 1.25 percent

The Bank of Japan raised interest rates to a more than 30-year...

AnalysisEditor's Pick

Why Panthic Politics Is At A Crossroads In Punjab

The electoral data points to a significant shift in loyalties. Voters who...

Diplomacy

515 arrested, firearms seized in 24hrs across Dhaka

Dhaka Metropolitan Police arrested 515 people in the capital over the past...

EconomyGeopolitics

Trump signs bill authorizing broad new sanctions to squeeze Russia

US President Donald Trump signed a bill Friday authorizing new sanctions designed...

EconomyGeopolitics

German government agrees fuel tax cut: sources

Germany is poised to cut taxes on fuel for vehicles under an...

DiplomacyLeadStory

Global financial architecture must create conditions for sustainable development: Dr Titumir

Dr Rashed Al Mahmud Titumir, Adviser to the Prime Minister on the...

Related Articles

Bank of Japan hikes key interest rate to 1.25 percent

The Bank of Japan raised interest rates to a more than 30-year...

German government agrees fuel tax cut: sources

Germany is poised to cut taxes on fuel for vehicles under an...

Turkey revokes license of Iranian bank: official gazette

Turkey has revoked the licence of Bank Mellat, one of Iran's largest...

EU urges US to reconsider visa denial to Palestinian delegation for UN meeting

The European Union said on Saturday it regretted Washington's decision to deny...