A bipartisan bill is set to be introduced in the US Congress this week that would grant President Donald Trump the authority to impose up to 100% tariffs on the five largest buyers of Russian oil and gas, including China and India. This was reported by The Wall Street Journal.
The document, co-authored by Senator Lindsey Graham, also includes sanctions against individuals facilitating the export of Russian energy resources, as well as new restrictions on Russia's defense, energy, and financial sectors and its 'shadow fleet.'
According to WSJ, if the bill is passed, it will be the first time that the US Congress directly empowers the president to use import tariffs as a tool of geopolitical pressure.
