US Senate revises Russia sanctions bill

The United States — United States Senate unveiled a revised bipartisan Russia sanctions bill, the 'Sanctioning Russia Act of 2026', originally championed by the late Senator Lindsey Graham. The bill softens proposed tariff penalties on major buyers of Russian oil and gas, reducing the maximum tariff from 500% to 100% for the top five purchasers of Russian crude: China, India, Slovakia, Hungary, and Azerbaijan. It also includes exemptions for countries importing less than 15% of Russia's natural gas exports and taking steps to reduce imports, potentially exempting Japan, France, Hungary, and Belgium. The legislation imposes sanctions on Russian officials, financial institutions including the Russia — Central Bank of Russia, the shadow fleet of tankers, and major energy projects like Yamal LNG and Arctic wolf. It grants President Donald Trump authority to waive sanctions if in the national interest. The bill has 26 co-sponsors and is expected to pass as a tribute to Graham, who died suddenly on July 11, 2026. Trump endorsed the bill and suggested adding sanctions on Iran and Hezbollah, but Senator Richard Blumenthal cautioned against expanding the scope. Senate leaders Chuck Schumer and John Thune expressed support for quick passage.