The bill proposes a tariff of ‘not less’ than 500% on any country that ‘knowingly sells, supplies, transfers, or purchases products that originated in the Russian Federation
A rapidly advancing U.S. Senate bill, backed by bipartisan support from Senators Lindsey Graham and Richard Blumenthal, aims to cripple Russia’s economy by imposing heavy tariffs on countries buying Russian energy. The legislation proposes a minimum 500% tariff on oil, gas, uranium, and petrochemical products originating from Russia, targeting nations that continue to trade with Moscow, including China.
The bill is designed to pressure Vladimir Putin into “good faith negotiations for a lasting peace in Ukraine.” However, it threatens economic disruption for approximately half of the European Union, where several member states still rely heavily on Russian fossil fuels.
The European Commission plans to phase out Russian energy by 2027, but some countries, including Hungary and Slovakia, oppose this. The bill includes provisions for a 180-day waiver from tariffs at the president’s discretion.
Critics warn the law could complicate U.S.-EU trade talks and disrupt global trade, raising enforcement challenges due to the wide network of Russian energy buyers.