Russia Sanctions Bill 'Running Out of Runway,' Senator Says
Senators said they are continuing to negotiate the details of a comprehensive Russia sanctions bill Feb. 8 and hope to reach an agreement quickly. Sen. Jim Risch of Idaho, the top Republican on the Senate Foreign Relations Committee, declined to say what the final sticking points are, but said they need to be cleared up soon. “We’re running out of runway here,” Risch told reporters on Capitol Hill, “and it’s really important that we get this done.”
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
Both Risch and Sen. Bob Menendez of New Jersey, the committee’s top Democrat, said last week they were close to releasing the text of the bill, which would include both pre- and post-invasions sanctions against Russia if it mobilizes its military against Ukraine (see 2202010050 and 2202030041). “Time is of the essence,” Menendez told reporters this week. “I certainly would love to make sure we can make it happen as soon as possible.”
Sen. Chris Murphy, D-Conn., told reporters the sanctions in the bill would be “crippling,” but there may still be some disagreement over which are included in the pre-invasion measures and which would be imposed after a potential invasion. He said sanctions against the Russia-backed Nord Stream 2 pipeline would be included in a set of post-invasion measures.
Murphy expects Menendez and Risch to reach an agreement “by the end of the week.” And while he views the bill as important, he said he isn’t sure whether it will sway President Vladimir Putin’s decision. “I think our bill is additive, not definitive,” Murphy said. “Putin is not going to make up his mind based on whether the Senate passes a bill, but it could help tip the balance.”