Skip to content
Govbase
Govbase
Congress·In Committee·H.R. 2548

Congress Proposes 500% Tax on Russian Imports and Sanctions on Major Banks

Sanctioning Russia Act of 2025

12 months ago·View on Congress.gov
⏸

Stalled

No legislative action in over 90 days.

Legislative Progress

House
Senate
President
Law

Key Points

  • Congress introduced a bill to cut off Russia from the U.S. economy if it continues its war in Ukraine or refuses to sign a peace deal. The plan would target Russia's top leaders, its biggest banks, and its military by freezing their assets and banning them from doing business with Americans.
  • The policy would place a massive 500% tax on all goods coming from Russia, including oil and gas. This would make Russian products much more expensive and discourage U.S. companies from buying them. It also bans the U.S. from importing any uranium from Russia or from other countries that source it from Russia.
  • To further isolate Russia, the bill would ban Russian companies from being traded on U.S. stock markets and stop U.S. banks from investing in Russian energy projects. It also blocks international money transfer systems from working with sanctioned Russian banks, making it much harder for them to move money around the world.
  • The bill also targets other countries that continue to buy Russian oil or uranium. Those countries would face the same 500% tax on their own goods when they try to sell them in the United States. This is meant to pressure the whole world to stop funding the Russian government.
  • These penalties would stay in place until the President confirms that Russia has signed a lasting peace agreement with Ukraine and stopped all military attacks. However, the bill allows for humanitarian aid, like medicine and food, to still reach the Russian people.
National Security Foreign PolicyEconomy FinanceEnergy EnvironmentTaxes

Impact Analysis

Personal Impact

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions
Apr 1, 2025House

Referred to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Financial Services, Ways and Means, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Apr 1, 2025

Introduced in House

Source Information

Document Type

Congressional Bill

Official Title

Sanctioning Russia Act of 2025

Bill NumberHR 2548
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Financial Services, Ways and Means, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsor

Cosponsors

(152)
D: 90R: 62

Analysis generated by AI. Always verify with official sources.