Highlights:
A BILL seeking to impose 100 per cent tariffs on five countries, including India and China, for buying Russian oil was introduced in the US Senate on Thursday (16) with the support of more than 60 lawmakers.
The proposed legislation exempts some European countries that continue to import Russian gas while taking steps to reduce those purchases.
The bill, introduced by Democrat Senator Richard Blumenthal and late Republican Senator Lindsey Graham, aims to reduce the revenue Russia uses to finance its war against Ukraine. It proposes mandatory sanctions on Russia’s political leadership, financial institutions, energy sector and sanctions evasion networks.
Blumenthal had said on Tuesday (14) that the legislation was aimed at imposing 100 per cent tariffs on five major purchasers of Russian oil – China, India, Slovakia, Hungary and Azerbaijan.
The text of the bill introduced in the Senate on Thursday imposes tariffs on imports from countries that are the world’s top five purchasers of Russian crude oil or natural gas, or are among the top five facilitators of Russian oil sanctions evasion.
The bill exempts countries, mostly in Europe, whose imports of Russian natural gas account for less than 15 per cent of Russia’s total natural gas exports and which are taking significant steps to reduce those imports.
It also calls on the US Trade Representative to reassess the top five purchasers every 180 days and adjust tariff rates based on changes in purchasing patterns.
The proposed legislation exempts the purchase of Russian uranium by the US for its nuclear reactors and medical isotope requirements. It also excludes activities carried out under US-Russia cooperation in the nuclear and space sectors.
Named the Lindsey O Graham Sanctioning Russia Act of 2026, the bill is a tribute to Graham, who died last Saturday (11). An earlier version of the legislation had proposed imposing 500 per cent tariffs on countries purchasing oil and gas from Russia.
If enacted, it would be the first time the US Congress has explicitly authorized the use of tariffs as a geopolitical tool to penalize countries financing another nation’s war effort.
“Until the very day he passed, Lindsey remained focused on passing the Russia sanctions bill. Passing this legislation would honour my brother’s steadfast commitment to our national security, and it would provide president Trump with additional leverage to bring this war to an end,” Senator Darline Graham said.
“I look forward to working with my colleagues to pass this legislation and send it to president Trump’s desk,” said Darline, Lindsey’s sister, who was appointed to the Senate to complete his remaining term in office.
