WASHINGTON (Kashmir English): US senators on Tuesday unveiled legislation proposing tariffs of up to 100 per cent on imports from India, China, and three other countries over their continued purchases of Russian oil and gas.
The bill, backed by both Republican and Democratic senators, seeks to impose sanctions on Russian officials and to use tariffs to pressure China and India to reduce their dependence on Russia as an energy supplier, Reuters reported.
The proposed legislation targets the five largest buyers of Russian oil: India, China, Slovakia, Hungary, and Azerbaijan.
The new version of the measure eases tariffs that could be placed on third-party buyers of Russian oil and natural gas to a maximum of 100% on the top five purchasers, from the previous proposal’s blanket 500%.
It also allows an exception for countries that import less than 15% of Russia’s natural gas exports and that are taking significant steps to reduce those imports, which could exempt Japan, France, Hungary, and Belgium.
Graham, who died suddenly on Saturday, had announced during a trip to Ukraine just a day earlier that he had reached an agreement with Republican President Donald Trump to move forward with the bill, more than a year after it was introduced.
Senate aides said there were 26 co-sponsors for the bill, and they expected more within several hours, expressing optimism about its chances of passage. “We’re pretty confident on its path,” one aide said.
The measure also imposes sanctions on Russia’s shadow fleet of tankers that do not depend on Western maritime services, on Russian financial institutions including the Central Bank of the Russian Federation, and on Russia’s largest state-owned energy projects, including Yamal LNG and Arctic LNG 1, 2 and 3.
In addition, the new version includes a provision that allows Trump to waive the sanctions if he deems it in the U.S. national interest to do so.
India has significantly increased imports of discounted Russian crude since the outbreak of the Ukraine conflict in 2022, maintaining that its energy purchases are guided by national interest and aimed at ensuring affordable energy supplies.
