House Bill Would Ban More Imports From Russia
A recently introduced House bill with bipartisan support would place more restrictions on certain imports from Russia. The Expanding Trade Sanctions on Russia Act, introduced last week by Reps. Jimmy Panetta, D-Calif., and Tom Rice, R-S.C., would place a ban on all imports from Russia with more than $50 million in 2021 import value, the lawmakers said. If it becomes law, the restrictions would take effect 15 days after the bill's enactment, and would allow the president to waive the embargo for a “specific product” if the president determines the waiver is in the “national interest of the United States.”
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Panetta said the bill “would help bleed” Russia of its “resources it is using to wage its unjust and unprovoked war on the nation and people of Ukraine.” Rice urged the U.S. to build on its “work to degrade Russia’s ability to continue this unjust, criminal war.”