A new US bill called the Sanctioning Russia Act of 2025 could bring huge changes to global trade. Proposed by US Senators Lindsey Graham and Richard Blumenthal, it aims to punish countries like India and China for continuing to buy oil, gas, or uranium from Russia.
The key part of the bill is a massive 500% tariff on all US imports from countries that keep buying Russian energy. This move is meant to cut off Russia’s funding for its war in Ukraine. India and China are the main targets, as they together buy about 70% of Russia’s energy exports. India alone got around 35% of its oil from Russia in 2024.
Senator Blumenthal said this plan will force countries to “choose sides,” warning that continuing to buy from Russia will come with serious costs. He made the announcement in a video recorded from Rome, with St. Peter’s Basilica in the background.
The Sanctioning Russia Act of 2025 takes a new approach to economic sanctions. Instead of just going after Russian companies or banks, it aims to pressure other countries. If a country keeps buying energy from Russia, the U.S. will hit its exports with a massive 500% tariff. The bill does allow the U.S. president to delay these tariffs for up to 180 days, and possibly longer, but only with approval from Congress.
Critics warn that this bold move could damage global trade and cause tensions with key US partners. But supporters argue it’s necessary to cut off Russia’s war money.
EU Announces €2.3 Billion to Help Rebuild Ukraine
On the other side, the European Union revealed a new €2.3 billion ($2.5B) package to help rebuild Ukraine. The aid includes:
€1.8B in loan guarantees to support hospitals, homes, and small businesses
€580 million in direct grants to fix energy and transport systems
A €500M equity fund to attract private investments by 2026
European Commission President Ursula von der Leyen called this “solidarity in action” and praised Ukraine’s progress toward joining the EU.
EU Plans to Cut Russian Oil Price Cap to $50
European Union is planning to lower the price cap on Russian oil from $60 to $50 per barrel. This new cap would be updated every three months, based on recent market trends—specifically, it would stay 15% below the average oil price over the past 10 weeks. This move is part of the EU’s 18th sanctions package against Russia, but it’s currently delayed because Slovakia wants special treatment for Russian gas. Countries like Greece, Malta, and Cyprus, which were earlier against the plan, are now more willing to support it. However, the EU still needs agreement from all member countries to move forward, and it’s unclear if G7 nations will back the change.
