Bipartisan Senate bill could empower Trump to impose up to 100% tariffs on India, China and other major buyers of Russian energy
The US Senate has approved a bipartisan bill that could allow President Donald Trump to impose tariffs of up to 100% on the top five countries purchasing crude oil and natural gas from Russia, including India and China.
The bill, named in memory of Republican Senator Lindsey Graham, who died on July 11, was passed by the Senate in an 86-11 vote. Graham had been a strong advocate of tougher sanctions against Russia over its war in Ukraine, which has now entered its fifth year.
The legislation was jointly championed by Graham and Democratic Senator Richard Blumenthal, who had worked for more than a year to secure its passage.
Graham’s successor in the Senate, his sister Darlene Graham, said the legislation targets what she described as Russian President Vladimir Putin’s “weakest spot.”
Blumenthal said after the vote that Ukraine was not alone.
“Today we are telling the people of Ukraine: You are not alone,” he said. “And today we are telling Vladimir Putin: You cannot conquer Ukraine.”
The bill will now move to the House of Representatives for consideration. The House is scheduled to reconvene on August 31.
Under the bipartisan proposal, the US president would have the authority to impose tariffs of up to 100% on the top five buyers of Russian oil and natural gas. In addition to India and China, Azerbaijan, Hungary and Slovakia are currently among the leading importers of Russian energy, according to the report.
The legislation, however, includes exemptions for countries that import less than 15% of their required natural gas from Russia and are taking effective steps to further reduce those imports.
The bill also contains provisions for sanctions against Putin, senior Russian political and military leaders, Russian financial institutions and Russian energy projects.
It would further expand US sanctions targeting older and reflagged oil tankers that Moscow uses to circumvent existing restrictions on Russian oil and energy revenues.
The White House would also be allowed to temporarily ease certain sanctions or restrictions if the president certifies to Congress that doing so is in the national interest.
In addition to measures targeting Russia, the legislation would extend the 1996 Iran Sanctions Act through 2031. The law imposes penalties on companies that invest in Iran’s energy sector.
If enacted, the bill could significantly increase economic pressure on countries such as India and China that continue to purchase Russian energy, potentially raising the cost of their imports and creating fresh challenges for their trade and energy strategies.
