• A bipartisan group of U.S. lawmakers is pressing Treasury Secretary Scott Bessent to back a stalled bill that would impose sanctions and tariffs on countries buying Russian oil, gas, and uranium.
  • Supporters argue that stronger economic pressure is needed to advance Ukraine peace talks, but the measure faces opposition over enforcement and allied coordination.
  • The push comes ahead of the NATO summit, where the bill could become a key topic of discussion.

New Sanctions Bill Gains Momentum

A bipartisan coalition of U.S. lawmakers is ramping up pressure on Treasury Secretary Scott Bessent to throw his weight behind a stalled Russia sanctions bill, according to people familiar with the matter. The legislation, which could be discussed as early as next week’s NATO summit in Washington, would authorize secondary sanctions and tariffs on any country that purchases Russian oil, gas, or uranium.

“We’ve seen that direct sanctions alone aren’t enough—Russia is still generating billions from energy exports,” one of the lawmakers said on condition of anonymity. “This bill targets the buyers, not just the sellers. That’s how you really cut off the funding for the war.”

The measure has been languishing in Congress for months amid concerns from the Biden administration about its potential to strain relations with allies and complicate efforts to stabilize global energy markets. But proponents say the calculus has changed as peace talks with Ukraine have stalled.

Treasury Weighs Risks and Rewards

Bessent, who has not publicly taken a stance on the bill, is expected to face intense lobbying from both sides during the NATO summit. Treasury officials have privately expressed worries that the sanctions could backfire by driving up energy costs and fracturing the alliance.

“You have to be careful not to shoot yourself in the foot,” said a former Treasury official familiar with internal discussions. “If you tariff energy from a major supplier without ready alternatives, you risk inflation at home and resentment abroad.”

Nevertheless, the bill’s backers point to recent data showing that Russia has managed to maintain oil exports near pre-war levels, largely by routing shipments through intermediaries and selling to countries like India and China. “There’s a clear gap in enforcement,” the lawmaker added. “We need to close it.”

Industry and International Reaction

The proposed sanctions have already drawn criticism from some European capitals, which fear disruptions to energy supply chains. Major oil traders are also bracing for potential compliance headaches. “This would be a whole new game,” a senior trading executive said. “You’d have to trace every barrel, and that’s not always possible.”

However, advocates argue that the bill includes provisions for waivers and phase-in periods to minimize disruptions. The legislation would also require the Treasury to report on implementation metrics within 90 days of enactment.

As the NATO summit approaches, all eyes will be on Bessent’s next move. “The message from the Hill is clear: it’s time to get tough,” the lawmaker concluded.