The Bear Traps Report founder Larry McDonald breaks down India’s role in the Russia-Ukraine war and predicts the administration’s next pick for Fed chair.
Through the Sanctioning Russia Act, bipartisan lawmakers are preparing to impose a 500% tariff — an all-out signal to the Kremlin and its partners: de-escalate the war in Ukraine or face steep economic consequences.
The measure, crafted by Sens. Lindsey Graham (R-S.C.) and Richard Blumenthal (D-Conn.), grants President Donald Trump broad authority to impose economic penalties on Russia.
These colossal tariffs would target the heart of Russia’s economy — its oil and gas exports — if Moscow continues to defy peace efforts or escalate the conflict.
A SHADOWY FLEET OF ‘GHOST SHIPS’ IS FERRYING RUSSIAN OIL TO INDIAN PORTS
The bipartisan legislation comes as Russia’s war in Ukraine stretches into its third year and fifth month, with the Kremlin showing no signs of abandoning its ambition to dismantle Ukrainian sovereignty and resurrect the influence of the former Soviet empire.
Ukrainian rescuers conduct search and rescue work in a heavily damaged residential building following the Russian missile strike in Kyiv on June 17, 2025. (Genya Savilov/AFP/Getty Images / Getty Images)
The legislation permits 500% secondary tariffs on imports from countries that continue doing business with Russia — most notably China, Brazil and India.
Secondary tariffs are trade penalties aimed at third-party nations that maintain economic ties with a sanctioned country. In this case, they serve as an indirect means of pressuring Russia by punishing its trading partners.
TRUMP RAISES TARIFFS ON COUNTRIES WITH RUSSIAN OIL PURCHASES
The proposed measure comes as Washington seeks additional ways to further isolate Moscow’s economy.
Trump has previously singled out countries like India and China — the top purchasers of discounted Russian crude — for undermining G7 price caps and blunting the impact of Western sanctions.
Russian President Vladimir Putin, right, shakes hands with Chinese President Xi Jinping during their meeting at the Grand Kremlin Palace on May 8, 2025 in Moscow. (Contributor/Getty Images / Getty Images)
Additionally, the Sanctioning Russia Act authorizes Trump to raise tariffs on Russian imports to the U.S. by up to 500% — though bilateral trade has sharply declined since the Kremlin’s 2022 invasion of Ukraine.
In the wake of the Kremlin’s unprovoked war in Ukraine, the U.S. and European Union unleashed a war chest of coordinated sanctions aimed at crippling the Russian economy.
A pool photograph distributed by the Russian state agency Sputnik of Russian President Vladimir Putin in Moscow on July 11, 2025. (Mikhail Metzel/ Pool/AFP / Getty Images)
In addition to the 500% tariffs authorized by the legislation, Trump has previously vowed to impose 100% secondary tariffs on any nation that maintains trade ties with Russia. It remains unclear whether he intends to pursue both measures simultaneously.
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The Kremlin said Thursday that Russian President Vladimir Putin agreed to hold a meeting with Trump and potentially Ukrainian President Volodymyr Zelenskyy “in the coming days.” The meeting would mark the first between Putin and Zelenskyy since the start of Moscow’s war.
