The US is preparing new sanctions against Russia: the largest buyers of Russian oil may be hit

The United States is considering a bill that would increase sanctions pressure on Russia and countries that continue to buy Russian energy or help Moscow circumvent existing restrictions.

The document allows the US president to impose targeted tariffs on imports from the five largest buyers of Russian oil and gas.

It is estimated that about 70% of Russia’s energy export revenues go to China and India. Thus, the new mechanism could significantly increase economic pressure not only on Russia directly, but also on its key trading partners.

Sanctions against Putin, oligarchs and Russian banks

The bill also provides for the mandatory introduction of sanctions against the Russian president and representatives of his inner circle.

The restrictions could apply to high-ranking Russian military and politicians, oligarchs and their family members, state-owned companies and financial institutions.

The document also mentions the Central Bank of the Russian Federation.

Russian energy projects may be subject to restrictions

The bill provides for measures against large Russian energy projects, in particular Yamal LNG and Arctic LNG.

Another area should be the fight against the Russian “shadow fleet”, which Moscow uses to transport energy and circumvent international sanctions.

Thus, legislators seek to strengthen control not only over Russian companies, but also over the infrastructure and international mechanisms that allow the Russian Federation to continue to receive income from the sale of oil and gas.

The US president will be able to suspend certain sanctions

At the same time, the bill leaves the American president the opportunity to temporarily suspend the effect of certain restrictions.

The head of the White House will be able to apply such a mechanism if he considers it necessary for reasons of US national security.

This actually leaves the administration some freedom in applying sanctions depending on the foreign policy situation and relations with countries that continue to cooperate with Russia.

The bill also concerns Iran

A separate part of the document provides for the extension of sanctions restrictions aimed at financing Iran’s energy and military-industrial sectors until 2031.

The bill still needs to pass the US House of Representatives to enter into force.

Congressmen are currently on vacation until August 31, so further consideration of the document is expected after the resumption of the work of the House of Representatives.