United States President Donald Trump has backed a powerful new bipartisan bill aimed at punishing countries that continue to buy Russian oil, according to Republican Senator Lindsey Graham. The proposed legislation would give Trump the authority to impose tariffs of up to 500 percent on imports from nations doing business with Russia’s energy sector. China and India are expected to be among the most impacted.

U.S. President Donald Trump says Venezuela will transfer up to  50 million barrels of oil to the United States following a dramatic power shift in Caracas. Trump claims the oil will be sold at market prices, with proceeds used to benefit both Americans and Venezuelans. U.S. officials say the move follows years of sanctions over disputed elections and foreign alliances involving China, Russia, Iran, and Cuba.