US 500% Tariff On Russia Can Rattle Energy Stocks And Have 'Major Negative Implications' On Global Economy, Says Craig Shapiro

As the U.S. Senate considers the Sanctioning Russia Act of 2025, economistCraig Shapirohas raised alarms about its potential to disrupt American markets and the global economy.What Happened:In a post on X early Friday, Shapiro, macro strategist at the Bears Trap Report, highlighted a looming "major statement" from PresidentDonald Trumpon Monday regarding Russia, tied to the bipartisan bill spearheaded by Senators Lindsey Graham and Richard Blumenthal, which now enjoys support from over 80 senators.The act's centerpiece is a 500% tariff on Russian-origin goods and services, with secondary sanctions targeting nations like China and India—key buyers of Russian energy.Shapiro warned, "If Trump moves forward with the Senate sanctions bill, which includes secondary sanctions of 500% on China and India as they are buyers of Russian energy, it is going to have major negative implications for the global economy very quickly."He added that this could jolt energy stocks, given Russia's role in global oil markets.The energy sector faces a ban on U.S. exports to Russia and secondary sanctions on foreign entities aiding Russian oil and gas, while financial measures prohibit U.S. transactions with Russia except under specific licenses.He emphasized the tariff's scope, stating that there will be a 500% tariff on imports from any country like India or China, knowingly trading in Russian oil, gas, uranium, petroleum, or petrochemicals, etc.“This bill is a sweeping escalation, combining targeted sanctions and sweeping economic measures—especially secondary actions—to isolate Russia financially, hit its global energy revenue, and deter allies from shoring up its economy,” he said.See Also:Bitcoin Breaches $118K, But These BTC Mining Firms Are Still Priced Like It’s At $58K: Here’s How These Mining Stocks Could ExplodeWhy It Matters:These are a few oil and energy companies that could be impacted by the ‘US Sanctioning Russia Act of 2025’.StocksYTD PerformanceOne-Year PerformanceExxon Mobil Corp.XOM7.10%1.48%Chevron Corp.CVX5.08%-0.70%Occidental Petroleum Corp.OXY-7.95%-25.42%EOG Resources Inc.EOG-2.39%-5.02%Marathon Petroleum Corp.MPC28.81%10.94%CVR Energy Inc.CVI73.00%31.75%Schlumberger NVSLB-4.56%-20.65%ETFsYTD PerformanceOne-Year PerformanceUnited States Oil Fund LPUSO-2.00%-6.86%ProShares Ultra Bloomberg Crude OilUCO-16.58%-30.70%SPDR S&P Oil & Gas Exploration & Production ETFXOP-1.88%-9.22%Price Action:TheSPDR S&P 500 ETF TrustSPYandInvesco QQQ Trust ETFQQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Friday. The SPY was down 0.49% at $622.78, while the QQQ declined 0.44% to $552.98, according toBenzinga Prodata.Loading...Loading...Read Next:As Trump Calls For 3-Percentage Point Rate Cut, ‘Too Late’ Jerome Powell To Resign, June Fed Minutes Show ‘Uncertainty’ Reigns SupremeDisclaimer:This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.CVICVR Energy Inc$32.49-%Stock Score Locked: Edge Members OnlyBenzinga Rankings give you vital metrics on any stock – anytime.Unlock RankingsEdge RankingsMomentum90.44Growth11.91QualityN/AValue64.93Price TrendShortMediumLongOverviewCVXChevron Corp$153.50-0.43%EOGEOG Resources Inc$121.55-0.15%MPCMarathon Petroleum Corp$182.26-%OXYOccidental Petroleum Corp$45.71-0.31%QQQInvesco QQQ Trust, Series 1$553.02-0.44%SLBSLB$36.50-0.41%SPYSPDR S&P 500$622.77-0.49%UCOProShares Ultra Bloomberg Crude Oil$23.921.61%USOUnited States Oil Fund$76.000.81%XOMExxon Mobil Corp$114.26-0.59%XOPSPDR S&P Oil & Gas Explor & Product$131.76-0.40%Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. . .Posted In:News