Particle.news
Download on the App Store
10 ARTICLES
·
2h ago

Trump Backs Bill Letting President Impose 500% Tariffs on Buyers of Russian Energy

The administration says the measure would give the president sweeping powers to cut Moscow’s wartime revenue and could push major buyers to change supply lines or face steep penalties.

Russian President Vladimir Putin meets with journalists to comment on new U.S. sanctions targeting two major Russia's oil producers, as well as other international issues, in Moscow, Russia, October 23, 2025. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
Image
Image
Image

Overview

  • Senators and the White House reported agreement on a revised draft of S.1241 on July 10, 2026, and President Trump confirmed public support for the measure in mid‑July, giving the bill fresh momentum toward floor consideration.
  • The bill would authorize a minimum 500% tariff on Russian petroleum, uranium and other goods for countries that continue imports without compliance, but it would not force the president to impose that tariff.
  • Sponsors say the measure has overwhelming Senate backing with roughly 84 to 85 co‑sponsors and the latest draft expands targets to include Iran and Hezbollah as part of the same sanctions framework.
  • The text does not add new crypto rules, but regulators including OFAC and FinCEN have used existing authority to sanction crypto channels like the A7A5 ruble‑linked token and Iranian digital exchanges to block sanctions evasion.
  • If enforced at scale the tariffs could sharply raise global energy costs, feed inflationary pressure and squeeze energy‑intensive businesses such as Bitcoin miners, while the bill still needs finalized text and committee and floor votes before it can become law.