US Senate approves bill to impose 500% tariff on countries trading with Russia

The US Senate has passed a bill that would impose a 500% tariff on countries importing oil, gas, uranium, and other natural resources from Russia. Bloomberg reported this, citing Senator Lindsey Graham.

The bill, which passed with the support of 72 senators, now requires approval from the House of Representatives and the President's signature to become law.

The proposed tariffs would come into effect if Russia refuses to engage in peace talks with Ukraine. The bill not only targets Russia with new sanctions but also imposes a significant tariff on nations continuing to import key resources such as oil, gas, and uranium from Russia.

This move comes amid growing concerns over Russia's role in the ongoing conflict with Ukraine. As tensions rise, the US seeks to leverage economic pressure on countries maintaining trade ties with Russia.

In April, Russian Foreign Minister Sergey Lavrov stated that new infrastructure projects would be launched to double Russian gas exports to Uzbekistan. Additionally, Kazakhstan's Energy Minister Yerlan Akkenjenov confirmed that gas transit from Russia to Uzbekistan would increase by 30% in 2025, following a threefold rise in 2024.