House Passes Russia Sanctions Bill Targeting Oil Imports

Why it matters locally: While Oregon is not a primary oil-producing state, increased global oil prices due to these sanctions could indirectly affect transportation costs and energy prices for consumers and businesses across the state.

WASHINGTON – The House of Representatives has passed legislation authorizing sanctions against Russia. The bill, named in honor of the late South Carolina Republican Lindsey Graham, now advances to the President for his signature. This measure provides the President with the authority to implement tariffs. These tariffs would apply to countries identified as top importers of oil and natural gas from Russia. Nations such as China and India are among those designated by the legislation.