WASHINGTON — A new tariff proposal targeting Russian oil is taking shape inside the Trump administration, though officials caution it remains in the development phase with no formal announcement expected before March 2025. The administration may invoke the International Emergency Economic Powers Act, or IEEPA, which grants the president authority to regulate commerce during a declared national emergency. That route would allow executive action.
On Capitol Hill, Republicans control both the House and Senate since January 2025, and key committees — the House Ways and Means Committee and the Senate Finance Committee — are positioned to draft legislation that could impose tariffs or strengthen existing sanctions. The proposal faces potential opposition from some Republican lawmakers who favor lower energy prices and from business groups concerned about inflation.
The timeline for implementation remains unsettled. Administration officials describe a window of weeks to months, contingent on negotiations with allies and the response from Russia. The White House has signaled willingness to lift the tariffs if Russia agrees to a ceasefire or a peace deal.
The IEEPA mechanism, if used, would allow the president to regulate commerce during a national emergency. The statute requires the president to declare a national emergency.
The proposal’s opponents within the GOP argue that higher energy costs could hurt consumers. Business groups have expressed concern about inflation. Administration officials counter that the tariffs are a necessary lever to force Russia to the negotiating table.
The offer to lift tariffs in exchange for a ceasefire or peace deal is a central element of the strategy. The response from Russia remains a wild card. The Kremlin has historically retaliated against Western sanctions with countermeasures.
The timeline for implementation — weeks to months — reflects the complexity of coordinating with allies. The administration has held preliminary talks with key partners, but no formal agreement has been reached.
For now, the tariff on Russian oil remains in the development phase.
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