S.808 - Stop Russian Market Manipulation Act (119th Congress)
Summary
The Stop Russian Market Manipulation Act (S.808) aims to prohibit the importation of specific minerals (platinum, nickel, copper) from the Russian Federation. This prohibition begins 90 days after the Act's enactment. The ban applies to minerals produced in Russia or obtained to circumvent the Act.
Expected Effects
The immediate effect would be to disrupt the supply chain of these minerals in the US. This could lead to increased costs for industries that rely on these materials. The long-term effect depends on Russia's actions in Ukraine and the potential for the ban to be reinstated if hostilities resume.
Potential Benefits
- Strengthens national security by reducing reliance on Russian resources.
- Applies economic pressure on Russia, potentially influencing its foreign policy.
- Supports Ukraine by diminishing Russia's revenue streams.
- Incentivizes domestic production or sourcing of these minerals from alternative countries.
- Promotes ethical sourcing and discourages support for regimes engaged in conflict.
Potential Disadvantages
- Potential increase in costs for industries relying on these minerals, leading to higher consumer prices.
- Disruption of existing supply chains, requiring businesses to find alternative sources.
- Possible retaliatory measures from Russia, impacting other trade relationships.
- Economic impact on US companies that currently import these minerals from Russia.
- Risk of circumvention through other countries, reducing the effectiveness of the sanctions.
Constitutional Alignment
The bill aligns with the constitutional power of Congress to regulate commerce with foreign nations (Article I, Section 8, Clause 3). The act does not appear to infringe upon any specific individual liberties outlined in the Bill of Rights. The power to enact sanctions and control trade falls within the enumerated powers of the legislative branch.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).