US May Pull Countries Helping Ukraine Out Of 'hellish Sanctions' Against Russia

Senators have begun tweaking the 500% tolls bill.

U.S. senators have begun to adjust the bill on 500% duties against countries that buy Russian energy resources. Even the European Union, some countries of which continue to purchase oil, gas and nuclear fuel from Russia, is among the potential targets. One of the bill's co-sponsors intends to exclude those countries that help Ukraine.

Senator Lindsey Graham, who proposed the bill along with Richard Blumenthal, told Semafor that he plans to make an exception for countries that help Ukraine defend itself against Russia. "Why don't we make an exception for countries that help Ukraine? If you give it military and economic assistance, you get an exception. So China, if you don't want to get sanctioned, help Ukraine .... I think that makes sense," Graham said.

The senator said he discussed his idea Tuesday night with Donald Trump. What the president thought of it, the senator declined to say, "I'll let him speak for himself." The decision to change the bill was made after senators listened to representatives of countries concerned about being hit with 500% duties, Graham said.

Crude oil from Russia is primarily purchased by China and India. But oil and/or oil products in April were also purchased by Turkey, Japan, South Korea, Taiwan, Singapore, Singapore, Malaysia, UAE, Saudi Arabia, Brazil, Nigeria, points out Vladislav Inozemtsev, co-founder and leading expert of the European Center for Analysis and Strategy. In addition, several EU countries continue to receive Russian oil via pipelines, also pipeline gas and LNG still account for almost 20% of European gas imports.

The US has been unable to keep even the 145% duties against China (Trump lowered them while negotiating a trade deal with Beijing), "and I don't see any chance of imposing triple the duties on imports from countries that buy Russian oil and oil products... not to mention uranium and nuclear fuel," Inozemtsev notes.

Now 82 senators out of 100 support a bill for "hellish sanctions" against Russia. Senate Republican Majority Leader John Thune said Monday that he is discussing the bill with the White House and its progress in Congress could begin in June.

Graham was more definitive, saying that absent a breakthrough in talks on a peace settlement in Ukraine, the bill would be considered this month. On July 4, Congress goes on summer recess and "we are running out of time" as Vladimir "Putin is not interested" in Donald Trump's offer to negotiate peace and is "preparing a new invasion soon," Graham told Semafor. He added:

"Let's take these sanctions. Let's increase the costs [of supporting Russia] to China and other bad actors. That's the only way to keep this war from escalating."

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