US Senate passes bill allowing 100 percent tariffs on major Russian energy buyers

The United States Senate passed a bill on Friday aimed at increasing economic pressure on Russia and Iran. The legislation, which received an 86-11 vote, allows the US President to levy 100 percent tariffs on imports from the five countries that purchase the most oil and natural gas from Russia. India, China, Azerbaijan, Hungary, and Slovakia are currently listed as the top five importers of these Russian energy products. The bill is named in honour of the late Republican senator Lindsey Graham, a vocal supporter of Ukraine.

The proposed law is intended to discourage countries from purchasing Russian energy, which the US argues helps fund the ongoing war in Ukraine. While the bill grants the President the authority to impose these tariffs, it also provides discretion regarding their implementation. The legislation must now be approved by the House of Representatives to become law. Some observers have noted that such measures could impact global energy markets and trade relations between the United States and the affected nations.