Senators Seek Secondary Sanctions on Russian Oil Purchases (1)

A bipartisan pair of senators is pressing the Biden administration to use secondary sanctions to enforce a cap on the price of Russian oil.

The push comes as the US and Group of Seven nations seek to limit Russian President Vladimir Putin’s ability to fund his war in Ukraine.

Watch: Sen. Chris Van Hollen wants to see more sanctions targeting Russian oil.

Source: Bloomberg

Senators Chris Van Hollen, a Maryland Democrat, and Pennsylvania Republican Pat Toomey are working on legislation that would impose secondary sanctions on foreign firms that facilitate the trade of Russian oil and on countries that increase their purchases of the commodity.

“We want a uniform international standard and ...