September 5, 2026: A Russia sanctions bill that overwhelmingly cleared the US Senate last month is facing growing opposition in the House and is likely to remain stalled until at least the November Midterm election in the country, amid concerns that it could expand President Donald Trump’s tariff powers and push up oil prices, reported Bloomberg.

The bill, authored by the late Senator Lindsey Graham of South Carolina, a stalwart Ukraine supporter, would authorize Trump to levy 100% tariffs on the top five buyers of Russian crude and natural gas, as well as the top five countries aiding Russia’s energy sanctions evasion. China, India and Turkey are the largest purchasers of Russian petroleum products.

The growing concern among both Democratic and Republican lawmakers is a victory for the retail industry and the influential business alliance US Chamber of Commerce, which have stoked fears the measure would arm the Trump administration with new legal justification for widespread tariffs.

(Source: ET online)