Ukrainian President Zelensky visits Capitol Hill to push Russia sanctions package with crypto implications

Volodymyr Zelensky walked into the US Capitol on July 28 to meet with all 100 senators. His mission: rally support for the Sanctioning Russia Act, a sweeping bipartisan bill that could slap tariffs as high as 500% on countries importing Russian energy. The bill, known formally as S.1241, already has over 84 co-sponsors. What the Sanctioning Russia Act actually does The legislation would give the president authority to impose massive tariffs on nations that continue purchasing Russian oil, natural gas, and uranium. The bill also includes expanded financial restrictions aimed at choking off revenue streams that fund Russia’s war against Ukraine. This goes beyond the existing sanctions framework that has been in place since 2022, layering on new enforcement mechanisms and broader authority. A compromise between Congress and the Trump administration was announced around July 10, which helped unlock the bipartisan momentum the bill now enjoys. The shadow of Lindsey Graham Senator Lindsey Graham, who was instrumental in driving the sanctions push forward, passed away shortly before the Senate’s July actions on the bill. Graham had met with Zelensky in Kyiv on July 10, right before the co...