100% tariffs on Russian oil buyers: Bill could hit China and India hardest | The latest National and International News - upday News
A bipartisan group of U. S. senators has introduced sweeping sanctions legislation targeting the top buyers of Russian oil and gas, aiming to choke off Moscow's war funding. The bill, championed by Senator Lindsey Graham who died on July 11, gained crucial backing from President Donald Trump who called it a tribute to the late senator. | The latest National and International News - upday News
A bipartisan group of U. S. senators has introduced sweeping sanctions legislation targeting the top buyers of Russian oil and gas, aiming to choke off Moscow's war funding. The bill, championed by Senator Lindsey Graham who died on July 11, gained crucial backing from President Donald Trump who called it a tribute to the late senator. The legislation grants Trump authority to impose tariffs up to 100% on the five largest purchasers of Russian crude oil and natural gas. China and India, among the world's top buyers of Russian energy, would face the brunt of the economic pressure. The measure represents a significant escalation in efforts to end Russia's four-year invasion of Ukraine, which has killed roughly 2 million military troops and caused nearly $200 billion in damage to Kyiv. Trump told reporters in the Oval Office on Tuesday: «This is in honor of Lindsey. This was his thing. He wanted this more than any other thing. »Reduced tariffs, strategic exemptionsThe updated legislation scales back from an initial proposal that called for 500% tariffs. Under the new framework, the top five oil and gas buyers would be reassessed every 180 days, creating pressure for countries to seek alternative energy sources. Countries importing less than 15% of Russia's total natural gas exports are exempt from the tariffs. This carve-out spares allies like France and Japan who rank among top Russian gas importers, according to a Senate aide. The bill also authorizes tariffs up to 100% on the top five countries facilitating Russian oil sanctions evasion. Additional provisions target Russia's shadow fleet and Chinese support for the Kremlin's defense industrial base. Graham's legacy drives momentumThe bill's text was finalized before Graham met with Ukrainian President Volodymyr Zelenskyy in Kyiv last week. Graham died suddenly on Saturday shortly after returning to the U. S. Democratic Senator Richard Blumenthal stated: «Now is the time to push Russia toward peace. Ukraine is gaining net territory and reaching deep into Russia with its drones and missiles. » He described the bill's potential passage as a «fitting tribute to Senator Graham's fierce support for Ukraine's freedom. »Senator Katie Britt said: «Putin's war against Ukraine has claimed hundreds of thousands of lives, and it must end. Lindsey believed that getting this legislation passed and signed into law would be the most consequential thing he achieved in his career. »The bill has attracted 26 cosponsors, with Senate aides expecting further support. Bill sponsors are confident it has sufficient votes to pass the Senate after securing presidential backing. Comprehensive sanctions packageThe legislation mandates sanctions on Russian President Vladimir Putin, senior leaders, Russian banks including the Central Bank, Sberbank, and Gazprombank, and state-owned companies. It targets foreign entities supporting Russia's defense industry and state energy projects including Yamal LNG and Arctic LNG 1, 2, and 3. The measure would prohibit Americans from purchasing Russian debt or conducting business with the Russian government or its energy sector. The president retains discretion to grant exemptions to certain entities if justified to Congress as being in U. S. national interest. Trump indicated the bill may expand to include Iran. «They're going to add Iran, which is a very big thing. If they did that, they may add Hezbollah too,» he told reporters. Breaking congressional gridlockThe legislation had stalled in Congress since April 2025 due to shifts in Trump's approach to the Russia-Ukraine war and bipartisan disagreements. New momentum emerged following Ukraine's successful drone strikes against Russian advances and refineries. The bill was negotiated through high-level conversations between Treasury Secretary Scott Bessent, Graham, and Democratic Senator Jeanne Shaheen. The White House finalized its support last week. Trump recently approved a license for Ukraine to produce Patriot interceptors and privately encouraged Zelenskyy to adopt a more assertive approach against Russia. A U. S. official indicated on July 13 that Trump views supporting the sanctions bill as a tribute to Graham. Republican Representative Michael McCaul announced plans to introduce a House version of the legislation this week, calling on Congress to pass it in Graham's honor. Note: This article was created with Artificial Intelligence (AI).