U.S. Senate Approves Russia Sanctions
The U.S. Senate overwhelmingly approved a new law imposing sanctions on Russia, with a particular focus on the energy sector. The legislation includes a 500% tariff on imports from Russia, including oil and gas, and a 100% tariff on major importers such as China and India. The law also introduces new sanctions against Russian President Vladimir Putin and other officials. For the first time, it targets Russia's "shadow fleet" used to circumvent sanctions, aiming to cut off sources of funding for Russia's war against Ukraine. The bill now requires approval from the House of Representatives, but a vote is not expected before September. This step is seen as a crucial move to weaken Russia's economic capacity and support efforts to end the conflict.
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