Senate Advances Russia Sanctions Bill with Potential 100% Tariffs on Major Energy Importers
The U.S. Senate has advanced a bill that could impose tougher sanctions on Russia, including potential 100% tariffs on countries importing Russian oil and gas. The bill, known as the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, aims to cut revenues from Russia's energy sales, which are used to fund its war on Ukraine. The legislation also includes extended sanctions against Iran, following a request from President Trump. If enacted, the bill would allow the President to impose tariffs on the top five purchasers of Russian oil and natural gas, with the authority to increase duties on all goods imported from Russia to up to 500% ad valorem. The bill's progress comes amid ongoing geopolitical tensions and efforts to curb Russia's influence through economic measures. 
