Congress takes aim at Russia with trade penalties

Congressional trade leaders have agreed to pursue bipartisan legislation that aims to punish Russian President Vladimir Putin for his invasion of Ukraine by suspending normal trade relations with Russia and imposing a ban on Russian energy imports.

The bipartisan effort would allow President Joe Biden to increase tariffs on products from Russia and Belarus, which would also see normal trade relations halted by the bill. Relations could be restored “subject to certain conditions and congressional disapproval.”

What’s more, U.S. Trade Representative Katherine Tai would also be compelled to leverage the administration’s “voice and influence” to push for Russia’s suspension from the World Trade Organization and to halt Belarus’ accession to the global trade body.

The agreement offers a bipartisan path forward for Congress to impose sanctions on Russia as the conflict escalates. It also follows a direct plea from Ukrainian President Volodymyr Zelenskyy on Saturday for lawmakers to ratchet up the pressure.

House Ways and Means Committee leaders Richard Neal (D-Mass.) and Kevin Brady (R-Texas) and Senate Finance Committee leaders Ron Wyden (D-Ore.) and Mike Crapo (R-Idaho) said in a statement that the legislation “will send a clear message to Putin that his war is unacceptable and the United States stands firmly with our NATO allies.”

“While Congress needs to do more, as the congressional leaders with jurisdiction over our nation’s trade policy, we are committed to using the tools at our disposal to stop Russia’s unconscionable and unjust war on Ukraine and to hold Belarus accountable for its involvement,” the lawmakers continued.

House Speaker Nancy Pelosi previewed the legislation in a letter to colleagues on Sunday. She noted that lawmakers would work to keep the ban on Russian energy imports from driving up gasoline prices on American consumers, who are already grappling with the worst inflation in 40 years.

“Let me be clear: the United States need not choose between our democratic values and our economic interests,” Pelosi wrote. “The administration and the Congress remain laser-focused on bringing down the higher energy costs for American families and our partners stemming from Putin’s invasion.”