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4w ago

Senate Unveils Trump-Backed Russia Sanctions Bill That Caps Tariffs at 100%

President can waive penalties as the bill authorizes up to 100% duties on five top buyers of Russian energy, raising enforcement and diplomatic questions.

The U.S. flag flies at half-staff at the Capitol in Washington, Monday, July 13, 2026, after the sudden death of prominent Republican Senator Lindsey Graham of South Carolina. (AP Photo/Mariam Zuhaib)
KYIV, UKRAINE - JULY 06: Firefighters work on a partially collapsed building at the scene of an attack as Russian missiles and drones struck Kyiv overnight on Monday, killing at least ten people and heavily damaging apartment buildings on July 6, 2026 in Kyiv, Ukraine. The large scale attack happened a few days after the deadliest assault on the capital city this year. (Photo by Paula Bronstein/Getty Images)
KYIV, UKRAINE - JULY 06: Emergency workers and machinery clear debris from the scene of an attack as Russian missiles and drones struck Kyiv overnight killing at least 15 people on July 6, 2026 in Kyiv, Ukraine. At least 15 people were killed and dozens injured after a Russian attack hit multiple apartment blocks, in the second large attack in Kyiv within a week. (Photo by Paula Bronstein/Getty Images)
Russian President Vladimir Putin meets with journalists to comment on new U.S. sanctions targeting two major Russia's oil producers, as well as other international issues, in Moscow, Russia, October 23, 2025. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.

Overview

  • Senators unveiled a revised bipartisan draft on Tuesday, July 14 that narrows an earlier plan for blanket 500% tariffs and instead authorizes tariffs up to 100% on the five largest buyers of Russian oil and gas.
  • The measure pairs broad sanctions on Russia’s energy projects, financial institutions including the central bank, and the shadow tanker fleet with the new tariff authority to cut Moscow’s energy revenue.
  • Sponsors said the bill already has roughly 26 co-sponsors and has White House backing from President Trump, who endorsed moving the measure forward and left open adding other targets.
  • The text limits tariff exposure with exemptions for some gas importers that buy under 15% of their gas from Russia and it gives the president formal waiver power while leaving exact tariff rates to the U.S. Trade Representative.
  • Observers warn enforcement remains unclear because the bill lacks crypto-specific rules even as agencies and private blockchain firms may be pressed to counter known Russian use of tokens to move funds and evade sanctions.