Bipartisan Bill Targeting Russian Energy Buyers Advances After White House Agreement

A bipartisan group of senators unveiled legislation on Tuesday that would sanction Russian financial institutions and largest state energy projects while imposing tariffs of up to 100 percent on the top five importers of Russian crude oil and natural gas.

@ABC reported that the bill targets foreign partners in the oil and natural gas trade. China, the top importer of both commodities, would face a 100 percent tariff, though tariffs cannot be stacked to reach 200 percent.

Key exemptions apply to natural gas purchasers including U.S. allies France and Japan. The legislation would also impose penalties on countries trading defense items with Russia, including Iran. The bill had been stalled for more than a year before the White House agreed to its terms on July 10.

Conversations with Treasury Secretary Scott Bessent in Ankara during the NATO summit helped secure that agreement, a Senate aide said. President Trump said Tuesday that he knew Graham wanted the bill badly and suggested possible additions involving Iran and Hezbollah. Sen.

Richard Blumenthal responded that the president had approved the bill and that Congress should move forward without opening it to other targets. Graham died suddenly on July 11. The bill text has not been changed since his death, a Senate aide said.

The measure is set to advance toward a likely successful Senate vote. Blumenthal said passage would be a fitting tribute to Graham. He recalled Graham calling from Kyiv with news that Trump would support the bill.

Sen. Tom Cotton said Congress should pass the bill immediately to restrict Russian energy sales and bring Putin to the negotiating table. Blumenthal added that sanctions provide a path toward peace as Ukraine gains net territory and reaches into Russia with drones and missiles.