A new bill has been introduced in the US to strengthen sanctions against the Russian Federation, which may be considered by Congress as early as January. The document, titled “Peace Through Strength,” outlines comprehensive restrictions on the aggressor aimed at pressuring key sectors of the Russian economy.
This is reported by Business • Media
Main Provisions of the New Sanctions Package
- Imposition of sanctions against high-ranking Russian officials, major enterprises, and oligarchs supporting the defense, energy, and transportation sectors of Russia.
- Restrictions on the Russian Federation’s access to the global financial system.
- Blocking schemes to circumvent sanctions that allowed Russia to export oil and petroleum products bypassing existing restrictions.
- Imposition of sanctions on foreign companies involved in the extraction of oil, gas, liquefied natural gas, and uranium in Russia.
- Increasing tariffs on imports from Russia to 500% for further economic isolation of the Russian Federation.
- Imposition of sanctions for war crimes committed by Russia.
Conditions for Lifting Sanctions and the US Treasury’s Decision
The text of the bill specifically states that the lifting of restrictions is only possible if Russia signs a peace agreement that must be approved by Ukraine, as well as a complete cessation of hostilities by the Russian Federation.
The document also states that sanctions can only be lifted if Russia signs a peace agreement approved by Ukraine and completely ceases hostilities.
At the same time, the US Treasury unexpectedly lifted sanctions on several companies from Finland, the United Arab Emirates, Turkey, and Cyprus. These enterprises previously supplied Russia with equipment and materials that could be used for weapon production, but the Treasury did not explain the reasons for this decision.