US President Donald Trump on Friday voiced assist for a Senate measure that will let the US impose tariffs of up to 500% on imports from nations nonetheless shopping for Russian power. “It could be okay with me,” he mentioned.
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Based mostly on studies, the proposal names oil, pure fuel, petroleum merchandise and uranium as coated items and highlights main consumers similar to India and China.
The transfer is described as a software meant to squeeze Russia’s export revenues, however the measure stays proposed and has not turn into regulation.
Tariffs Up To 500% On Power Imports
Reports have disclosed that the invoice would give the President authority to slap punitive duties — as excessive as 500% — on items coming from any nation judged to be materially buying and selling in Russian power.
JUST IN: 🇺🇸🇷🇺 President Trump approves invoice permitting 500% tariffs on international locations buying and selling with Russia. pic.twitter.com/qaBKVUMwTN
— BRICS Information (@BRICSinfo) November 17, 2025
Lawmakers behind the textual content say the measure targets power purchases that assist fund Moscow. How the tariff can be utilized, and the precise listing of products and exceptions, continues to be being labored out in committee.
Authorized specialists warn {that a} 500% responsibility would increase rapid questions on commerce guidelines and doable retaliation.
Instant Shock To Threat Belongings
Markets reacted quick. Crypto merchants moved to the exits within the first hours after the information, pushing volatility up throughout main tokens.
Almost $620 million in crypto positions have been liquidated in 24 hours, forcing over 152,000 merchants out, with a single $30 million BTC-USD order on Hyperliquid being the biggest hit.
Main altcoins like XRP, Solana, and Cardano noticed sharp swings, and Ethereum dropped towards the $3,000 stage.
Bitcoin took a 1% hit following the information. Within the final week, BTC has misplaced near 10% of its worth since hitting an all-time excessive of $126k on October 6, 2025.
The crypto market is very delicate to geopolitical commerce shocks. Analysts warn {that a} proposed 500% tariff on international locations buying and selling with Russia—considerably larger than previous charges that induced a $200 billion wipeout—may set off extreme panic promoting.
Analysts imagine that if the large-scale tariff is introduced into impact, its short-term impact may lower Bitcoin and main altcoins’ costs by 10% to twenty% resulting from elevated financial uncertainty and panic.
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Wider Financial Ripples And Power Costs
If the tariffs have been ever utilized, power flows can be disrupted. That might push crude and fuel costs larger, and better power prices normally feed into inflation.
Central banks would possibly reply by holding charges larger for longer, which may harm threat property together with crypto. But, historical past exhibits that after a brand new value regime takes maintain, folks generally search alternate options to money and financial institution deposits. That dynamic is a part of why crypto markets are watching this proposal so carefully.
Featured picture from David Hume Kennerly/Getty Pictures, chart from TradingView
