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Markets

Senators Unveil Russia Sanctions Targeting Five Buyers

Published 14 July 2026

A bipartisan group of U.S. senators unveiled a revised Russia sanctions bill on Tuesday, July 14, 2026, proposing tariffs of up to 100 percent on five major purchasers of Russian crude oil: China, India, Slovakia, Hungary, and Azerbaijan. The legislation, which has secured White House backing, aims to cut off a key revenue stream for Moscow's war effort in Ukraine.

The bill's introduction follows the sudden death of its chief Republican architect, Senator Lindsey Graham of South Carolina, who died on July 11. Lawmakers from both parties framed the push as a tribute to Graham's final legislative priority, which he had championed for over a year alongside Democratic Senator Richard Blumenthal of Connecticut. The revised text represents a significant compromise from an earlier version introduced in April 2025, which had proposed a blanket 500 percent tariff on buyers of Russian oil and gas.

The updated, more targeted approach emerged from months of negotiations to secure broader support, including from the White House, which had previously favored diplomatic channels. The new bill authorizes the president to impose tariffs of up to 100 percent on the five named countries. The exact...

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