Overview
- A bipartisan group of four senators introduced the Decreasing Russian Oil Profits Act to target foreign buyers, shippers, financiers and other facilitators of Russian crude and refined products.
- The bill requires the president to impose sanctions within 90 days once Treasury and State determine criteria are met, with exposure extending to companies’ executives and board members.
- Enforcement would rely on IEEPA asset‑blocking authorities that cut designated entities off from the U.S. financial system.
- Limited exemptions include per‑barrel payments into a Ukraine fund or tightly controlled escrow arrangements tied to reduced purchases, and carve‑outs do not apply to seaborne trades priced above the U.S. cap.
- Ukraine’s ambassador in Washington praised the proposal, while Bloomberg reports the administration is weighing additional actions against shadow‑fleet tankers and traders pending President Trump’s decision and the Kremlin says it has received no formal notice.