Senate Approves Russia Sanctions Legislation

Why it matters locally: Colorado's energy sector, including oil and gas production, could see indirect impacts from the new federal sanctions targeting Russian energy resources as global markets adjust to the increased tariffs.

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The United States Senate has approved legislation that targets Russia's economy through new tariffs. The bill specifically focuses on major importers of Russian energy resources. Senator Lindsey Graham, a Republican from South Carolina, had previously supported the development of this legislation. He advocated for its passage in Congress. Graham passed away in July.