The House passed a Russia sanctions bill named after Lindsey Graham. Graham died in July. Nothing says effective foreign policy like slapping a memorial plaque on economic warfare.
The bill targets Russian energy and financial sectors. It freezes assets. It bans transactions. Standard stuff. But now it carries the name of a senator who spent decades threatening Russia with bills exactly like this one, which Russia ignored with the same enthusiasm they'll ignore this one.
Putin will read the title. He'll see Graham's name. He'll remember absolutely nothing about him. Then he'll continue doing whatever he was going to do anyway.
The House voted overwhelmingly in favor. Bipartisan support. Everyone loves naming things after dead colleagues. It's cheaper than a statue and requires less maintenance.
Retail traders are already pricing in the impact. They're buying defense stocks. They're shorting Russian ETFs that stopped trading four years ago. They're convinced this changes something. They're reading the bill as a bullish signal for American energy, a bearish signal for European manufacturers, and a neutral signal for their own understanding of how sanctions work.
The sanctions will pass the Senate. Biden will sign it. Graham's family will attend the ceremony. Someone will give a speech about his legacy. That legacy will be a bill that punishes Russian oligarchs who already moved their money and Russian citizens who never had any.
The technical setup remains unchanged. Support holds at who gives a f*ck. Resistance sits at this means nothing. The trend is sideways into oblivion.
Somewhere a day trader is adding SANC to his watchlist.
Photo by on Unsplash
Leave a Comment