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A bipartisan group of US senators unveiled sweeping new Russia sanctions legislation on July 15, naming it the Lindsey O. Graham Sanctioning Russia Act of 2026 in honor of the bill’s longtime champion, who died just days before its unveiling. The legislation, co-authored with Democratic Senator Richard Blumenthal, would grant President Trump authority to impose tariffs of up to 100 percent on the top five countries purchasing Russian crude oil and natural gas, a list expected to include China and India.
The bill has scaled back from an earlier proposal that floated tariffs as high as 500 percent, though it maintains the core goal of cutting off revenue funding Russia’s war in Ukraine. It does include an exemption for countries importing less than 15 percent of Russia’s total natural gas exports, a provision aimed at shielding European allies with smaller residual reliance on Russian energy. Beyond tariffs, the measure also authorizes sanctions on Russian officials, financial institutions, energy sector entities and sanctions evasion networks.
China and India together account for roughly 70 percent of Russia’s energy exports, with India alone importing 7.7 million tonnes of Russian oil in a single recent month, more than a third of its total oil imports. The bill has drawn support from over 60 senators from both parties. Senate Majority Leader John Thune has said he hopes to bring it to the floor for a vote before lawmakers leave for the August 1 recess. If passed, it would mark the first time Congress has explicitly authorized tariffs as a geopolitical tool to pressure third countries over their trade relationships with another nation.
Sources:
· US Senate bill seeks 100% tariffs on India, China for buying Russian oil — Business Standard: https://www.business-standard.com/economy/news/us-senate-bill-seeks-100-tariffs-on-india-china-for-buying-russian-oil-126071700414_1.html
· Senators unveil sweeping Russia sanctions bill, urge passage in honor of Graham — CNN: https://www.cnn.com/2026/07/14/politics/senators-unveil-russia-sanctions-bill · US Russia Sanctions Bill Eases Threat of Tariffs on China and India — US News: https://www.usnews.com/news/politics/articles/2026-07-14/us-russia-sanctions-bill-eases-threat-of-tariffs-on-china-and-india
