Slammin' Down the Pipe: This Hot New Bill Could Cause Trouble for Russia
Russian Finance Ministry Outlines Retaliation Strategy for Potential U.S. "Damaging Sanctions"
Congress is heating things up with a bill that could cause some serious economic burn for Russia. Senators Lindsey Graham (the guy from South Carolina) and Richard Blumenthal (the dude from Connecticut) dropped this legislation bomb early April.
Their plan? To slap primary and secondary sanctions on Mother Russia if she doesn't sign off on a truce with the Ukraine crew. Sounds juicy, right? Here’s the lowdown.
What this bill is all about: If Russia doesn't get the memo and keep it cool with Ukraine, Uncle Sam is gonna clobber countries buying oil, gas, uranium, and other products from the bears. Yep, that means 500% tax hikes for them! Lindsey Graham is smirking confidently, saying these sanctions will leave a lasting mark on Russia's economy.
Now, not everyone's thrilled about this proposal, like the Russian Ministry of Finance. They think it'll make countries thinking about teaming up with Russia second-guess their moves. The fact that China's not exactly loving dictatorial decisions favored by Washington doesn't help either. So, the question remains: is this the kind of support Congress'll shower on this bill? We'll see!
Data cruncher Dmitry Kiriy shed some light on the current Russia-US trade relationship; it's the lowest it's been since 1992, clocking in at $3.5 billion. Russia ships over platinum group metals, nuclear fuel, and fertilizers to the US—products with no sanctions against 'em yet, thank goodness. But that's just the warm-up.
Meanwhile, the European Union said if Russia doesn't chill out and agree to a ceasefire, they’ll hit Russia with those new sanctions, ala May 10th. President Putin's press secretary, Dmitry Peskov, ain't too worried; Russia's learned to deal with sanctions, so threats are just a waist of time. On May 12, he hammered home the message: Russia can't be bullied like that, nope, not happening!
Things heated up after Ukraine expressed a readiness for a truce. Vladimir Putin tossed out a suggestion that these talks pick up again May 15th in Istanbul. Donald Trump, the Prez, urged Ukraine to just say yes already, hinting he might even fly to Turkey for the event. And speaking of attendees: the Ukrainian Prez, Volodymyr Zelensky, confirmed his presence, inviting Vladimir Putin to come in person.
According to Bloomberg, many European leaders think, "Yeah, let's wait for the Russia-Ukraine talks in Istanbul before we go hog wild with new sanctions on Russia."
So, here we are, folks. Hungry for more? Hop on our Telegram channel: @expert_mag!
Footnotes
- American Lawmakers Propose Sanctions Against Russia If It Doesn't Agree To Ceasefire With Ukraine, https://www.forbes.com/sites/charlesgoss/2025/04/01/american-law-makers-propose-sanctions-against-russia-if-it-doesnt-agree-to-ceasefire-with-ukraine/?sh=6ef1445a67c3
- Senate introduces bill to impose sanctions on Russia if Ukraine ceasefire not reached by April 30, https://www.politico.com/news/2025/04/01/senate-sanctions-russia-472709
- Senate bill would impose secondary sanctions on countries purchasing Russian oil, https://thehill.com/policy/international/523062-senate-bill-would-impose-secondary-sanctions-on-countries-purchasing
- EU threatens Russia with new sanctions if ceasefire not agreed by May 10, https://www.reuters.com/business/eu-threatens-russia-new-sanctions-if-ceasefire-not-agreed-may-10-2025-05-10/
- U.S. Senators Call for Congress to Act on Sanctions Against Russia for Ukraine Conflict, https://www.senate.gov/insights/us_senators_call_congress_act_sanctions_against_russia_ukraine_conflict/
- European Leaders May Wait for Russia-Ukraine Talks in Istanbul Before Imposing New Sanctions on Russia, https://www.bloomberg.com/news/articles/2025-05-13/european-leaders-may-hold-off-on-imposing-new-sanctions-on-russia
- The new bill proposed by Senators Lindsey Graham and Richard Blumenthal threatens to impose primary and secondary sanctions on Russia, targeting industries such as finance, energy, and business, if Russia fails to reach a truce with Ukraine by a certain date.
- Russia's Ministry of Finance has expressed concern that these proposed sanctions could deter other countries from doing business with Russia, potentially impacting the general news and crime-and-justice sectors.
- According to data cruncher Dmitry Kiriy, the current Russia-US trade relationship is at its lowest point since 1992, with Russia exporting platinum group metals, nuclear fuel, and fertilizers to the US, but these products are currently not under any sanctions.
- The European Union has also threatened to impose new sanctions on Russia if a ceasefire is not agreed upon by May 10th, but some European leaders suggest they may wait for the Russia-Ukraine talks in Istanbul before taking further action in the sphere of sanctions.
