BusinessPostCorner.com
No Result
View All Result
Wednesday, July 29, 2026
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

US poised to impose new Russia sanctions package

July 29, 2026
in Finance
Reading Time: 4 mins read
A A
0
US poised to impose new Russia sanctions package
ShareShareShareShareShare

Unlock the White House Watch newsletter for free

Your guide to what Trump’s second term means for Washington, business and the world

The US is poised to impose sweeping sanctions on buyers of Russian oil and gas after senators overwhelmingly endorsed a bill intended to increase pressure on Vladimir Putin to end his years-long war in Ukraine.

The Senate voted 86-12 late on Tuesday to advance a bill that imposes primary and secondary sanctions against Russia and individuals and businesses that buy that nation’s oil and gas.

The sanctions package is the latest sign the Trump administration is starting to warm to Ukrainian President Volodymyr Zelenskyy as his country’s fight against Russia gathers momentum.

Minutes before Tuesday’s vote, Zelenskyy and Finland’s President Alexander Stubb addressed senators behind closed doors at the US Capitol to implore them to back the sanctions package.

Ukraine’s leader told the FT earlier this month that President Donald Trump liked to be associated with “success” and that he had told Zelenskyy that Kyiv was “doing very well” with its long-range drone campaign against the Kremlin’s energy sector that has dented its economy and military logistics.

The proposed measures would target Russian officials, oligarchs and their family members, as well as the nation’s banks and financial institutions among others. They would also allow Trump to impose tariffs on imported goods from countries that buy Moscow’s oil and gas.

Tuesday night’s vote was a procedural hurdle. The bill is expected to formally pass the Senate in the coming days and pass the House of Representatives with similar bipartisan support before being sent to Trump’s desk to be signed into law.

The sanctions package is officially called the Lindsey O Graham Sanctioning Russia and Iran Act of 2026, named after the late US senator who died suddenly earlier this month at the age of 71.

It was taken up by the Senate on Tuesday hours after the lawmaker’s funeral in Washington, which was attended by Zelenskyy, Stubb and other world leaders including Israeli Prime Minister Benjamin Netanyahu.

A longtime foreign policy hawk and vocal supporter of Ukraine, Graham had for more than a year pushed Trump to give the green light to legislation intended to dramatically increase the economic pressure on Russia and buyers of its energy.

Just days before his death, during his tenth visit to Ukraine since the war began, Graham announced that he and other lawmakers had reached a deal with the White House to advance the legislation.

A group of those senators — including Republican Senate foreign relations committee chair Jim Risch and Jeanne Shaheen, the top Democrat on the committee — said in a statement on Tuesday that there was “no greater way” to honour Graham’s legacy than to move forward with the legislation.

The bill also includes a provision to extend sanctions to restrict funding for Iran’s energy and weapons sectors.

Hours before Graham’s funeral on Tuesday, Zelenskyy met Trump at the White House. While the meeting was held behind closed doors, the Ukrainian president’s advisers signalled a growing confidence that Trump has become more supportive of Kyiv in recent months.

After the talks, Zelenskyy posted on social media: “A good meeting with President Trump @POTUS at the Oval Office. Thank you for everything we do together to protect the lives of Ukrainians and advance peace.”

Recommended

But some analysts have questioned whether new measures would be effective and noted the Trump administration may be wary of using powers that could push up oil prices.

Recent changes to the bill’s text meant implementing the sanctions, tariffs and secondary tariffs on Russian energy now depended on Trump rather than solely on the legislation Congress passed.

The White House temporarily lifted specific sanctions on Russian and Iranian crude to tackle a surge in oil prices during the conflict in the Middle East.

“It is now an option, not an obligation, to impose the tariffs due to the very broad waiver authority the new text accords President Trump,” said Kevin Book at ClearView Energy Partners, a Washington-based consultancy.

“The tariffs on buyers of Russian crude would be at lower levels under the statute’s latest text and could be waived by the president submitting a report to Congress. So essentially a relatively low bar.”

Credit: Source link

ShareTweetSendPinShare
Previous Post

In the blogs: How far on a full charge?

Pay margin from associate to senior level flatlines

Pay margin from associate to senior level flatlines

July 24, 2026
US hits 60 countries with new duties as Donald Trump rebuilds tariff wall

US hits 60 countries with new duties as Donald Trump rebuilds tariff wall

July 23, 2026
Accounting firm M&A on the rise

Accounting firm M&A on the rise

July 23, 2026
BBC Sounds – Page not found

BBC Sounds – Page not found

July 22, 2026
Dogecoin Buy Signals Flash But Price Stalls — What’s Next for DOGE?

Dogecoin Buy Signals Flash But Price Stalls — What’s Next for DOGE?

July 23, 2026
Users seemingly private conversations with Anthropic’s Claude showed up in Google search results

Users seemingly private conversations with Anthropic’s Claude showed up in Google search results

July 27, 2026
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

US poised to impose new Russia sanctions package

US poised to impose new Russia sanctions package

July 29, 2026
In the blogs: How far on a full charge?

In the blogs: How far on a full charge?

July 29, 2026

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!