Proposed US Sanctions on Russia May Hit China, India and Uranium Trade

A new U. S. sanctions proposal aimed at increasing pressure on Russia could also affect major buyers of Russian oil and natural gas, including China and India. According to The Wall Street Journal, the legislation would give President Donald Trump the authority to impose tariffs of up to 100 percent on countries that continue supporting Russia's energy exports. Sanctions Proposal Expands Pressure Beyond Russia The bill reportedly targets not only Russia's energy exports but also seeks to halt trade in Russian uranium. It also includes additional sanctions on Russia's defense, energy and financial sectors, as well as vessels associated with the country's so-called shadow fleet. Senator Richard Blumenthal, a Democrat involved in drafting the legislation, said lawmakers refined the proposal through extensive negotiations with the Office of the U.S. Trade Representative and officials at the White House.