Washington's bipartisan leadership in the Senate is pressing the Trump administration to move quickly on a sweeping sanctions law aimed at Russia, warning that slow implementation is giving Moscow room to keep funding its war against Ukraine.
In a letter sent late Tuesday to Treasury Secretary Scott Bessent and Secretary of State Marco Rubio, Senator Jeanne Shaheen of New Hampshire, the top Democrat on the Senate Foreign Relations Committee, and Republican Senator Roger Wicker of Mississippi, chairman of the Senate Armed Services Committee, said the administration must deploy the law's tools without waiting for the formal deadline.
"Every day that passes without maximum economic pressure allows Moscow to sustain this military escalation," the two senators wrote. Both were central figures in getting the sanctions bill, named after the late Senator Lindsey Graham, through Congress. President Donald Trump signed it into law nearly a month ago after it cleared the House and Senate with large bipartisan majorities.
Closing the shadow-fleet loophole
The senators identified Russia's so-called "shadow fleet" of tankers as the most urgent target. These several hundred unregistered or lightly registered vessels move Russian oil around the world, providing what the letter calls a financial lifeline to the Kremlin by circumventing existing sanctions.
They also demanded aggressive action against the financial networks that let Moscow dodge restrictions. The letter points specifically to overseas bank branches, including in Shanghai, and a growing network of Kyrgyz financial institutions that the senators describe as clearinghouses for sanctioned capital. "Foreign banks must be forced to make a choice," the senators wrote. "They can either do business with the United States or finance Russia's war. They cannot do both."
A further concern raised in the letter is Russia's emerging low Earth orbit satellite system. Ukrainian officials have warned that such a system could enable real-time targeting during winter strikes, and the senators urged the administration to counter what they called Moscow's "weaponization of space."
What the law requires
The sanctions legislation bans all new American investment in Russia and bars the handling of Russian sovereign debt. Shaheen and Wicker called on the Treasury Department to issue clear regulatory guidance ahead of the October deadline so that US financial institutions sever the remaining capital pipelines completely. They also want the administration to choke off dual-use technologies and electronics reaching Russia's military-industrial complex.
The senators note that the bulk of the law's provisions go into effect on October 18, marking the end of the administration's 30-day review period. But they argue there is no reason to wait until that date.
The India angle
For India, the legislation creates a fresh trade and energy dilemma. India has emerged as one of the biggest buyers of Russian oil, and the push for secondary sanctions — measures that penalise institutions doing business with Russia — could complicate New Delhi's energy calculations. One important clarification reported on the law: it does not automatically impose a 100 per cent tariff on Indian goods entering the United States.
The sanctions bill had been a year in the making and was rushed to passage after Graham, the long-serving South Carolina senator, received the nod of approval from Trump in the days around his overseas trip. Graham died in July of a likely torn aorta after attending a NATO summit in Turkey and a stopover in Kyiv. Ukrainian President Volodymyr Zelenskyy, who visited the White House late in the evening before a key Senate vote, has been pressing Washington to act.
In the month since the bill became law, however, momentum appears to have stalled, with no public steps from the administration toward implementation. Trump's next moves remain uncertain; he has been expected to speak with Russian President Vladimir Putin to discuss a possible case of plague at a Siberian research institute.
Sources: AP via The Los Angeles Post, Business Today
In a letter sent late Tuesday to Treasury Secretary Scott Bessent and Secretary of State Marco Rubio, Senator Jeanne Shaheen of New Hampshire, the top Democrat on the Senate Foreign Relations Committee, and Republican Senator Roger Wicker of Mississippi, chairman of the Senate Armed Services Committee, said the administration must deploy the law's tools without waiting for the formal deadline.
"Every day that passes without maximum economic pressure allows Moscow to sustain this military escalation," the two senators wrote. Both were central figures in getting the sanctions bill, named after the late Senator Lindsey Graham, through Congress. President Donald Trump signed it into law nearly a month ago after it cleared the House and Senate with large bipartisan majorities.
Closing the shadow-fleet loophole
The senators identified Russia's so-called "shadow fleet" of tankers as the most urgent target. These several hundred unregistered or lightly registered vessels move Russian oil around the world, providing what the letter calls a financial lifeline to the Kremlin by circumventing existing sanctions.
They also demanded aggressive action against the financial networks that let Moscow dodge restrictions. The letter points specifically to overseas bank branches, including in Shanghai, and a growing network of Kyrgyz financial institutions that the senators describe as clearinghouses for sanctioned capital. "Foreign banks must be forced to make a choice," the senators wrote. "They can either do business with the United States or finance Russia's war. They cannot do both."
A further concern raised in the letter is Russia's emerging low Earth orbit satellite system. Ukrainian officials have warned that such a system could enable real-time targeting during winter strikes, and the senators urged the administration to counter what they called Moscow's "weaponization of space."
What the law requires
The sanctions legislation bans all new American investment in Russia and bars the handling of Russian sovereign debt. Shaheen and Wicker called on the Treasury Department to issue clear regulatory guidance ahead of the October deadline so that US financial institutions sever the remaining capital pipelines completely. They also want the administration to choke off dual-use technologies and electronics reaching Russia's military-industrial complex.
The senators note that the bulk of the law's provisions go into effect on October 18, marking the end of the administration's 30-day review period. But they argue there is no reason to wait until that date.
The India angle
For India, the legislation creates a fresh trade and energy dilemma. India has emerged as one of the biggest buyers of Russian oil, and the push for secondary sanctions — measures that penalise institutions doing business with Russia — could complicate New Delhi's energy calculations. One important clarification reported on the law: it does not automatically impose a 100 per cent tariff on Indian goods entering the United States.
The sanctions bill had been a year in the making and was rushed to passage after Graham, the long-serving South Carolina senator, received the nod of approval from Trump in the days around his overseas trip. Graham died in July of a likely torn aorta after attending a NATO summit in Turkey and a stopover in Kyiv. Ukrainian President Volodymyr Zelenskyy, who visited the White House late in the evening before a key Senate vote, has been pressing Washington to act.
In the month since the bill became law, however, momentum appears to have stalled, with no public steps from the administration toward implementation. Trump's next moves remain uncertain; he has been expected to speak with Russian President Vladimir Putin to discuss a possible case of plague at a Siberian research institute.
Sources: AP via The Los Angeles Post, Business Today