Senators Introduce Russia Sanctions Bill With 100 Percent Tariffs on Top Oil Buyers

A bipartisan group of U.S. senators introduced the Sanctioning Russia Act of 2026 on July 14. The measure replaces an earlier 500 percent tariff proposal with tariffs of up to 100 percent on the top five purchasers of Russian oil and natural gas. The bill directs sanctions within 30 days of enactment against Russian President Vladimir Putin, senior leaders, state-owned enterprises, financial institutions, energy projects, oligarchs, and foreign firms linked to Russia's defense industrial base.

It broadens sanctions on Russia's shadow fleet of aging tankers and ends trade in Russian uranium. The legislation removes any requirement that sanctions depend on Russian participation in peace talks.

The president may waive sanctions but must notify Congress and provide justification. Countries that import less than 15 percent of Russia's annual natural gas exports qualify for exemptions if they reduce dependence. More than 26 senators from both parties have signed on as co-sponsors.

The top five purchasers of Russian crude include China, India, Slovakia, Hungary and Azerbaijan. The top importers of Russian natural gas include China, France, Japan, Hungary and Belgium.

and Leadership Statements Senate Democratic

Leader Chuck Schumer called for an immediate floor vote, saying the bill should pass in honor of Graham. Senate Majority Leader John Thune said he was hopeful a vote could occur. President Trump told reporters the bill honors Graham and expressed optimism about passage.

Democratic Senator Richard Blumenthal of Connecticut said Graham was absolutely ecstatic about the final agreement and described him as exuberant in their last conversation. Blumenthal supports naming the legislation after Graham. Graham had announced on July 13 that lawmakers reached agreement with the White House on key provisions after more than a year of negotiations.