Oil, gold, trade: Congress is looking for options to punish Russia for invading Ukraine
- Lawmakers want to punish Moscow beyond President Joe Biden’s ban on Russian energy products.
- Congress is considering a range of measures, such as higher tariffs on Russian goods.
- Some measures would target Russian oligarchs by closing tax loopholes, beefing up IRS enforcement.
WASHINGTON – Tougher trade rules. Higher tariffs on Russian-made goods. Siccing the IRS on Kremlin-linked oligarchs. Digging for gold.
Lawmakers successfully pressured President Joe Biden into announcing a ban Tuesday on the U.S. import of all Russian energy, including oil, as further punishment against President Vladimir Putin for Moscow’s unprovoked invasion of Ukraine.