hold on there's just too much going on in Congress lmao...
Cancels two licenses allowing Russian oil sales to India & others.
Rep. Gregory Meeks (D-NY) & Rep. William Keating (D-MA)
Introduced in House, referred to Foreign Affairs & Judiciary Committees.
This bill revokes two Treasury Department licenses that let Russian oil be delivered and sold if loaded on ships by specific dates. It also bans any future similar licenses and requires sanctions on Russian oil companies and transport firms. Sponsors are Democrats on the Foreign Affairs Committee; the bill moves next in committee.
Introduced Apr 9, 2026
This bill is under review by a committee. The committee holds hearings, gathers testimony from experts and stakeholders, and may propose amendments. If the committee votes to advance it, the bill moves to the full chamber for debate and a vote.
By canceling licenses, the bill restricts Russian oil exports, which could tighten global supply and raise oil prices modestly. The U.S. would freeze Russian oil companies' U.S. assets and deny visas to their executives. Reduced Russian oil revenue could limit funding for the war in Ukraine, potentially affecting global stability.
Supporters Say
Supporters say it cuts off critical funding for Russia's war in Ukraine and strengthens sanctions enforcement.
Critics Say
Critics warn it could raise energy prices and strain relations with India, a key ally buying Russian oil.
Proponents argue that Russian oil revenue directly supports military aggression, so closing loopholes is essential. Opponents counter that India relies on discounted Russian oil and may retaliate, potentially harming U.S.-India cooperation. Some also note that higher oil prices could hurt American consumers at the pump.