New US sanctions could strip Russia of 40% of its military budget
Photo: Russian President Vladimir Putin (Getty Images)
The US is proposing a 500% tariff on countries that purchase Russian oil. This could deprive Russia of $150 billion from its military budget, former advisor to the President of Ukraine, Oleh Ustenko, states in a comment to RBC-Ukraine.
Ustenko noted that if Senator Lindsey Graham’s sanctions bill proposing a 500% tariff on countries that purchase Russian oil is passed, Russia could lose around $150 billion — nearly 40% of its military budget.
The former presidential advisor believes that China, Türkiye, and India would stop buying Russian oil to avoid straining their relations with the US.
"Russia receives about $150 billion a year from oil sales. Perhaps some smaller countries will continue to buy it, but if China, Türkiye, and India refuse, Russia could lose that $150 billion. That’s nearly 40% of its military budget," Ustenko said.
If that happens, the expert added, Moscow would be forced to either cut its military budget, which is unlikely, or reduce non-military spending, which is even less realistic under the current circumstances.
Possible tightening of sanctions against Russia
On May 8, President of Ukraine Volodymyr Zelenskyy spoke with US President Donald Trump.
Following the conversation, Trump stated that "if the ceasefire is not upheld, the United States and its partners will impose additional sanctions."
German Chancellor Friedrich Merz expressed a similar view the next day. He emphasized that the ceasefire in Ukraine should "create an opportunity to conclude a real peace agreement." Otherwise, Russia will face new sanctions.
It should also be noted that Poland is aiming to coordinate the EU’s 17th sanctions package against Russia by July 1. It is already known that the new package will include restrictions on the export of chemicals and sanctions targeting companies.
