India, China fear 100% US tariffs after Senate clears bill to sanction Russia, major buyers: What we know
The US Senate on Friday (local time) overwhelmingly approved a bill imposing sanctions on Russia and Iran, in a move that will allow US President
The US Senate on Friday (local time) overwhelmingly approved a bill imposing sanctions on Russia and Iran, in a move that will allow US President Donald Trump to impose 100 per cent tariffs on India and China, two key importers of Russian petroleum products. US Senate passes Russia sanction bill to honour Lindsey Graham In an 86-11 vote, the bill, renamed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, was approved by the Senate, news agency AP reported. The bipartisan bill was championed by Republican Senator Lindsey Graham and Democrat Richard Blumenthal. On July 28, the senators reached the agreement less than two weeks after Graham’s unexpected death, saying there was “no greater way to honor” the South Carolinian’s legacy. In a joint statement, they said, "We are proud to announce an agreement on legislation to stop purchasers of Russian oil and gas from fueling Putin’s war machine and to continue restricting the Iranian regime’s ability to support terrorism and build its nuclear program." What does the Lindsey O.
Graham Sanctioning Russia and Iran Act of 2026 propose? The bill aims to punish Russia and major buyers of its petroleum products, including India and China. It allows the US President to impose a 100 per cent tariff on goods from the top five importers of Russian oil and gas, which reportedly include Azerbaijan, China, India, Hungary, and Slovakia. It also proposes sanctions on Russian leaders and officials, including President Vladimir Putin, as well as their family members, oligarchs, and financial institutions. Along with sanctions on Russia, the bill would extend the Iran Sanctions Act of 1996 until 2031, continuing penalties against companies that invest in Iran's energy sector. US lawmakers divided on Russia, Iran sanctions bill Darline Graham, the late senator's sister who was appointed to his seat after his death, reacted to the clearing of the bill and said, "This bill forces those primary countries keeping Russia's economy afloat to make a simple yet critical choice – a choice between doing business with America or buying cheap Russian energy." Following the vote, Senator Blumenthal addressed reporters and said that the late Senator would be "proud of what we've done".
He added, "These sledgehammer sanctions and tariffs will stop all who are complicit in this murderous, criminal war of aggression against brave free people." John Thune, R-S.D., Senate Majority Leader, said the bill would help protect Ukraine against Russian aggression. He added, "Ukraine is now the largest conflict, literally, since World War II in Europe." Thune, in a recent floor speech, went on to say, "And the Ukrainian people have been resilient, worked really, really hard to try and bring this war to an end. But as long as Putin has Russian oil and gas money, he’s able to continue this war. And what this sanctions bill would do would basically cut that off.” However, some Democrats have warned that the bill would give Trump new tariff powers, especially at a time when he has put such levies at the centre of his trade policy.
The BriefWire