American senators from both the Republican and Democratic parties have reached an agreement on a bill aimed at tightening sanctions against Russia and Iran, reports Bloomberg, as quoted by Moscow Times.
The bill, backed by Senator Lindsey Graham – who passed away this month – extends the authority of the US president to impose trade sanctions against Moscow and buyers of Russian energy products.
A vote on the bill is scheduled for Tuesday evening in Washington.
If approved by the Senate, the bill must also be adopted by the House of Representatives, which has already gone on vacation for the month of August.
Therefore, the law could come into effect, at the earliest, in September 2026.
What have the Republicans and Democrats decided regarding Russia?
According to the project, the US president will be authorized to impose a 500% tariff on imported Russian goods.
In addition, the possibility of imposing tariffs of up to 100% on the five largest buyers of Russian oil and natural gas is envisaged, as well as on countries that help Russia avoid sanctions.
The new presidential prerogatives are expected to be in effect for five years.
The President will be able to postpone the implementation of certain measures, if he considers them contrary to the national security interests of the USA.
The document also stipulates restrictive measures against the Russian president Vladimir Putin, government officials, military commanders, and Russian businessmen.
Details, HERE